Bank of Nova Scotia Sells 1,012,246 Shares of Hyatt Hotels Corporation $H

Bank of Nova Scotia reduced its stake in Hyatt Hotels Corporation (NYSE:H) by 63.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 592,997 shares of the company’s stock after selling 1,012,246 shares during the period. Bank of Nova Scotia’s holdings in Hyatt Hotels were worth $85,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in H. Goldman Sachs Group Inc. boosted its holdings in Hyatt Hotels by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 426,359 shares of the company’s stock worth $52,229,000 after acquiring an additional 29,976 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Hyatt Hotels by 8.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,311 shares of the company’s stock valued at $17,556,000 after acquiring an additional 11,252 shares in the last quarter. Norges Bank acquired a new position in shares of Hyatt Hotels during the second quarter worth approximately $616,000. Daiwa Securities Group Inc. lifted its holdings in shares of Hyatt Hotels by 394.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 17,312 shares of the company’s stock worth $2,418,000 after purchasing an additional 13,812 shares in the last quarter. Finally, Sei Investments Co. grew its position in Hyatt Hotels by 61.0% in the 2nd quarter. Sei Investments Co. now owns 68,803 shares of the company’s stock valued at $9,609,000 after purchasing an additional 26,073 shares during the period. Institutional investors own 73.54% of the company’s stock.

Insider Activity

In other news, Director Susan D. Kronick sold 1,119 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $174.51, for a total value of $195,276.69. Following the completion of the transaction, the director directly owned 31,225 shares of the company’s stock, valued at $5,449,074.75. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Sears sold 10,217 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $185.66, for a total value of $1,896,888.22. Following the sale, the insider directly owned 6,374 shares of the company’s stock, valued at $1,183,396.84. The trade was a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,224 shares of company stock worth $4,173,605. Corporate insiders own 23.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on H. JPMorgan Chase & Co. upped their price objective on shares of Hyatt Hotels from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday. Robert W. Baird lifted their price objective on shares of Hyatt Hotels from $183.00 to $185.00 and gave the company a “neutral” rating in a report on Monday, June 1st. HSBC upgraded shares of Hyatt Hotels from a “hold” rating to a “buy” rating and set a $212.00 target price on the stock in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hyatt Hotels in a research report on Wednesday, June 24th. Finally, Susquehanna cut their price target on Hyatt Hotels from $185.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.29.

Hyatt Hotels Price Performance

H opened at $183.52 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of -524.34 and a beta of 1.32. The firm’s fifty day moving average price is $188.89 and its two-hundred day moving average price is $169.94. Hyatt Hotels Corporation has a 1 year low of $133.51 and a 1 year high of $206.86.

Hyatt Hotels (NYSE:H) last announced its earnings results on Thursday, April 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. Hyatt Hotels had a negative net margin of 0.48% and a positive return on equity of 6.01%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, analysts anticipate that Hyatt Hotels Corporation will post 3.58 earnings per share for the current fiscal year.

About Hyatt Hotels

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.