Stephen P. Joyce Sells 32,000 Shares of Choice Hotels International Inc. (CHH) Stock
Choice Hotels International Inc. (NYSE:CHH) CEO Stephen P. Joyce sold 32,000 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $45.09, for a total value of $1,442,880.00. Following the completion of the transaction, the chief executive officer now directly owns 180,548 shares in the company, valued at $8,140,909.32. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Choice Hotels International Inc. (NYSE:CHH) opened at 44.79 on Friday. The company’s 50 day moving average price is $47.80 and its 200 day moving average price is $48.64. Choice Hotels International Inc. has a 12 month low of $40.78 and a 12 month high of $54.66. The company has a market capitalization of $2.50 billion, a P/E ratio of 19.55 and a beta of 1.10.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $241.80 million for the quarter, compared to analyst estimates of $244.21 million. Choice Hotels International had a negative return on equity of 33.53% and a net margin of 14.32%. Choice Hotels International’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. Analysts expect that Choice Hotels International Inc. will post $2.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.82 dividend on an annualized basis and a yield of 1.83%. Choice Hotels International’s dividend payout ratio (DPR) is currently 36.28%.
A number of hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its stake in Choice Hotels International by 7.4% in the first quarter. TIAA CREF Investment Management LLC now owns 168,892 shares of the company’s stock worth $9,129,000 after buying an additional 11,663 shares in the last quarter. BlackRock Inc. increased its stake in Choice Hotels International by 323.4% in the first quarter. BlackRock Inc. now owns 4,331 shares of the company’s stock worth $234,000 after buying an additional 3,308 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Choice Hotels International by 86.1% in the first quarter. Landscape Capital Management L.L.C. now owns 26,351 shares of the company’s stock worth $1,424,000 after buying an additional 12,192 shares in the last quarter. Alpine Partners VI LLC purchased a new stake in Choice Hotels International during the first quarter worth about $333,000. Finally, Zebra Capital Management LLC increased its stake in Choice Hotels International by 29.4% in the first quarter. Zebra Capital Management LLC now owns 26,621 shares of the company’s stock worth $1,439,000 after buying an additional 6,045 shares in the last quarter. Institutional investors and hedge funds own 49.90% of the company’s stock.
CHH has been the topic of a number of research reports. Zacks Investment Research raised Choice Hotels International from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Wolfe Research initiated coverage on Choice Hotels International in a report on Wednesday, July 6th. They issued a “market perform” rating on the stock. Morgan Stanley raised Choice Hotels International from an “underweight” rating to an “equal weight” rating and set a $47.00 price objective on the stock in a report on Monday. Deutsche Bank AG reaffirmed a “hold” rating on shares of Choice Hotels International in a report on Sunday, June 26th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Choice Hotels International in a research report on Monday, July 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $48.78.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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