Reinhart Partners Inc. grew its holdings in Extended Stay America (NYSE:STAY) by 41.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 502,970 shares of the company’s stock after buying an additional 146,261 shares during the quarter. Reinhart Partners Inc. owned 0.27% of Extended Stay America worth $7,363,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of STAY. Sterling Investment Advisors Ltd. acquired a new stake in shares of Extended Stay America during the second quarter worth $34,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Extended Stay America in the third quarter valued at approximately $36,000. Quest Capital Management Inc. ADV acquired a new position in Extended Stay America in the third quarter valued at approximately $77,000. Bamco Inc. NY acquired a new position in Extended Stay America in the second quarter valued at approximately $84,000. Finally, Alpine Woods Capital Investors LLC acquired a new position in Extended Stay America in the third quarter valued at approximately $174,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
STAY has been the topic of a number of recent research reports. Deutsche Bank set a $22.00 price objective on Extended Stay America and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Extended Stay America from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $16.50 to $15.00 in a research note on Friday, September 6th. Stifel Nicolaus dropped their price target on Extended Stay America from $20.50 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird set a $19.00 price target on Extended Stay America and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research downgraded Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price target on the stock. in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $17.80.
In related news, insider Kevin A. Henry sold 7,500 shares of Extended Stay America stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $13.86, for a total value of $103,950.00. Following the transaction, the insider now owns 108,683 shares in the company, valued at $1,506,346.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Halkyard bought 10,000 shares of Extended Stay America stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $14.63 per share, for a total transaction of $146,300.00. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.
NYSE:STAY traded up $0.19 during mid-day trading on Friday, reaching $14.70. 1,786,196 shares of the stock were exchanged, compared to its average volume of 1,834,823. The company has a 50 day simple moving average of $14.47 and a 200-day simple moving average of $15.88. Extended Stay America has a 1 year low of $12.88 and a 1 year high of $19.73.
Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $332.70 million during the quarter, compared to analysts’ expectations of $331.69 million. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS.
Extended Stay America Profile
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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