Assenagon Asset Management S.A. acquired a new position in shares of Hyatt Hotels Co. (NYSE:H) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,566 shares of the company’s stock, valued at approximately $1,398,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cutler Group LP purchased a new stake in Hyatt Hotels during the second quarter worth approximately $154,000. Point72 Hong Kong Ltd boosted its stake in shares of Hyatt Hotels by 54.7% in the second quarter. Point72 Hong Kong Ltd now owns 2,523 shares of the company’s stock valued at $195,000 after purchasing an additional 892 shares during the period. CAPROCK Group Inc. purchased a new position in shares of Hyatt Hotels in the third quarter valued at $203,000. Intrust Bank NA purchased a new position in shares of Hyatt Hotels in the second quarter valued at $210,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Hyatt Hotels in the second quarter valued at $225,000. Institutional investors own 37.38% of the company’s stock.
H has been the subject of several analyst reports. Robert W. Baird set a $88.00 target price on shares of Hyatt Hotels and gave the company a “buy” rating in a research note on Friday, October 19th. Zacks Investment Research upgraded shares of Hyatt Hotels from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Thursday, August 2nd. Longbow Research initiated coverage on shares of Hyatt Hotels in a research note on Friday, September 7th. They issued a “buy” rating and a $99.00 target price for the company. Berenberg Bank downgraded shares of Hyatt Hotels from a “buy” rating to a “hold” rating and upped their target price for the company from $83.00 to $87.50 in a research note on Thursday, July 19th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $84.00 target price on shares of Hyatt Hotels in a research note on Thursday, October 4th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.41.
In related news, insider Mark R. Vondrasek sold 7,540 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $71.77, for a total value of $541,145.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider H Co Lp Lci sold 110,480 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $78.76, for a total transaction of $8,701,404.80. The disclosure for this sale can be found here. Insiders sold 314,739 shares of company stock worth $24,604,337 over the last ninety days. 18.40% of the stock is currently owned by corporate insiders.
H opened at $69.49 on Friday. The firm has a market capitalization of $7.81 billion, a P/E ratio of 39.04, a P/E/G ratio of 4.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.17. Hyatt Hotels Co. has a 12-month low of $64.82 and a 12-month high of $84.89.
Hyatt Hotels (NYSE:H) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Hyatt Hotels had a net margin of 17.80% and a return on equity of 4.95%. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, equities research analysts anticipate that Hyatt Hotels Co. will post 1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 28th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $0.60 annualized dividend and a yield of 0.86%. Hyatt Hotels’s dividend payout ratio is presently 33.71%.
TRADEMARK VIOLATION NOTICE: “Assenagon Asset Management S.A. Takes $1.40 Million Position in Hyatt Hotels Co. (H)” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/11/10/assenagon-asset-management-s-a-takes-1-40-million-position-in-hyatt-hotels-co-h.html.
About Hyatt Hotels
Hyatt Hotels Corporation, a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, residential, and other properties. It operates in four segments: Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, and EAME/SW Asia Management and Franchising.
Featured Story: Terms to Better Understand Call Options
Want to see what other hedge funds are holding H? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hyatt Hotels Co. (NYSE:H).
Receive News & Ratings for Hyatt Hotels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyatt Hotels and related companies with MarketBeat.com's FREE daily email newsletter.