a16z Perennial Management L.P. Takes Position in Marriott International, Inc. $MAR

a16z Perennial Management L.P. acquired a new stake in Marriott International, Inc. (NASDAQ:MAR) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,929 shares of the company’s stock, valued at approximately $502,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new stake in Marriott International in the second quarter worth approximately $613,000. National Pension Service increased its stake in shares of Marriott International by 1.6% in the 3rd quarter. National Pension Service now owns 603,431 shares of the company’s stock valued at $157,158,000 after acquiring an additional 9,530 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Marriott International during the third quarter worth $858,000. Headwater Capital Co Ltd acquired a new stake in Marriott International in the second quarter worth $21,857,000. Finally, Index Fund Advisors Inc. bought a new stake in Marriott International in the second quarter valued at $666,000. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

Shares of MAR stock opened at $333.24 on Friday. The firm has a 50-day moving average of $313.17 and a 200-day moving average of $285.55. Marriott International, Inc. has a one year low of $205.40 and a one year high of $333.96. The company has a market cap of $89.42 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.86 and a beta of 1.13.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. Marriott International had a net margin of 10.07% and a negative return on equity of 89.29%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $6.46 billion. As a group, research analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MAR has been the subject of several research reports. Citigroup raised their target price on Marriott International from $285.00 to $345.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Robert W. Baird reduced their price objective on Marriott International from $287.00 to $285.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. Evercore increased their target price on Marriott International from $320.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. The Goldman Sachs Group upgraded shares of Marriott International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $288.00 to $345.00 in a research note on Monday, December 15th. Finally, Barclays raised their price objective on shares of Marriott International from $276.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, January 16th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.19.

Insider Activity at Marriott International

In related news, insider Deborah Marriott Harrison sold 70,000 shares of Marriott International stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $291.63, for a total transaction of $20,414,100.00. Following the sale, the insider directly owned 175,210 shares in the company, valued at approximately $51,096,492.30. This trade represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peggy Roe sold 2,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $292.12, for a total value of $584,240.00. Following the completion of the transaction, the executive vice president owned 17,466 shares of the company’s stock, valued at $5,102,167.92. This trade represents a 10.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 74,490 shares of company stock valued at $21,756,389. 10.68% of the stock is owned by insiders.

Marriott International Company Profile

Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.

The company traces its roots to the hospitality business founded by J.