Eagle Asset Management Inc. Reduces Stock Position in Hyatt Hotels Co. (NYSE:H)

22 Nov 2024, 15:22 by Sarita Garza · The Markets Daily

Eagle Asset Management Inc. cut its stake in Hyatt Hotels Co. (NYSE:H – Free Report) by 15.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,278 shares of the company’s stock after selling 86,149 shares during the quarter. Eagle Asset Management Inc. owned about 0.50% of Hyatt Hotels worth $74,680,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in shares of Hyatt Hotels in the 1st quarter worth about $26,000. Summit Securities Group LLC bought a new position in shares of Hyatt Hotels in the 2nd quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Hyatt Hotels in the 3rd quarter worth about $30,000. Blue Trust Inc. increased its stake in shares of Hyatt Hotels by 190.2% in the 3rd quarter. Blue Trust Inc. now owns 325 shares of the company’s stock worth $49,000 after acquiring an additional 213 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Hyatt Hotels by 1,107.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 338 shares of the company’s stock worth $50,000 after acquiring an additional 310 shares in the last quarter. 71.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

H has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hyatt Hotels from $120.00 to $127.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company reduced their price objective on shares of Hyatt Hotels from $178.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Hyatt Hotels from $141.00 to $151.00 and gave the company a “hold” rating in a report on Tuesday, August 20th. Robert W. Baird raised their price target on shares of Hyatt Hotels from $157.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Bank of America raised their price target on shares of Hyatt Hotels from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, October 21st. Fifteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Hyatt Hotels presently has a consensus rating of “Hold” and an average target price of $151.57.

View Our Latest Research Report on Hyatt Hotels

Hyatt Hotels Trading Up 0.6 %

Shares of H stock opened at $155.78 on Friday. The company has a market cap of $14.96 billion, a PE ratio of 11.74 and a beta of 1.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $152.66 and its two-hundred day simple moving average is $149.30. Hyatt Hotels Co. has a 1 year low of $112.85 and a 1 year high of $162.24.

Hyatt Hotels (NYSE:H – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Hyatt Hotels had a return on equity of 10.74% and a net margin of 20.55%. During the same quarter in the previous year, the business earned $0.70 EPS. Research analysts predict that Hyatt Hotels Co. will post 3.91 earnings per share for the current year.

Hyatt Hotels Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, November 22nd. Hyatt Hotels’s payout ratio is currently 4.52%.

Insider Activity at Hyatt Hotels

In other Hyatt Hotels news, insider Mark Samuel Hoplamazian sold 51,388 shares of Hyatt Hotels stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $149.77, for a total transaction of $7,696,380.76. Following the completion of the sale, the insider now directly owns 623,556 shares of the company’s stock, valued at $93,389,982.12. The trade was a 7.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.50% of the stock is owned by company insiders.

About Hyatt Hotels

(Free Report)

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units.