Veritas Asset Management LLP Takes Position in Hyatt Hotels Corporation $H

Veritas Asset Management LLP acquired a new position in shares of Hyatt Hotels Corporation (NYSE:H) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 204,801 shares of the company’s stock, valued at approximately $29,067,000. Hyatt Hotels accounts for approximately 0.3% of Veritas Asset Management LLP’s investment portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in H. Quent Capital LLC acquired a new position in Hyatt Hotels during the third quarter worth $34,000. MAI Capital Management lifted its stake in Hyatt Hotels by 53.4% during the 2nd quarter. MAI Capital Management now owns 270 shares of the company’s stock worth $38,000 after acquiring an additional 94 shares in the last quarter. Hantz Financial Services Inc. grew its position in Hyatt Hotels by 18,500.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 372 shares of the company’s stock valued at $52,000 after acquiring an additional 370 shares in the last quarter. Allworth Financial LP grew its position in Hyatt Hotels by 350.5% in the 2nd quarter. Allworth Financial LP now owns 410 shares of the company’s stock valued at $57,000 after acquiring an additional 319 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Hyatt Hotels by 311.0% during the third quarter. TD Private Client Wealth LLC now owns 559 shares of the company’s stock worth $79,000 after purchasing an additional 423 shares during the period. Hedge funds and other institutional investors own 73.54% of the company’s stock.

Insider Buying and Selling at Hyatt Hotels

In other Hyatt Hotels news, insider Peter Sears sold 12,394 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $155.51, for a total transaction of $1,927,390.94. Following the sale, the insider owned 5,594 shares of the company’s stock, valued at approximately $869,922.94. This trade represents a 68.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Javier Aguila sold 9,548 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.87, for a total transaction of $1,583,726.76. Following the sale, the insider owned 2,684 shares of the company’s stock, valued at $445,195.08. This represents a 78.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,383 shares of company stock worth $5,321,682 over the last three months. Insiders own 23.70% of the company’s stock.

Hyatt Hotels Stock Performance

Shares of H stock opened at $156.13 on Monday. The company has a market cap of $14.83 billion, a P/E ratio of -167.88, a PEG ratio of 1.93 and a beta of 1.27. The firm has a fifty day moving average price of $163.08 and a 200 day moving average price of $151.05. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 1.47. Hyatt Hotels Corporation has a 12 month low of $102.43 and a 12 month high of $174.58.

Hyatt Hotels (NYSE:H) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.79). The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Hyatt Hotels had a positive return on equity of 3.22% and a negative net margin of 1.27%.The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts predict that Hyatt Hotels Corporation will post 3.05 earnings per share for the current fiscal year.

Hyatt Hotels Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 24th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 24th. Hyatt Hotels’s dividend payout ratio is -64.52%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Hyatt Hotels in a report on Wednesday, January 14th. They issued a “buy” rating and a $198.00 price objective for the company. Robert W. Baird raised their price target on shares of Hyatt Hotels from $154.00 to $156.00 and gave the company a “neutral” rating in a research report on Thursday, November 20th. Mizuho boosted their price target on shares of Hyatt Hotels from $203.00 to $223.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Barclays cut their price objective on Hyatt Hotels from $200.00 to $198.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Finally, Truist Financial lifted their target price on Hyatt Hotels from $159.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.06.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.