Extended Stay America Inc. (NYSE:STAY) major shareholder Paulson & Co. Inc. sold 4,983,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $14.16, for a total value of $70,563,995.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Extended Stay America Inc. (NYSE:STAY) opened at 13.81 on Monday. The stock has a 50 day moving average price of $14.31 and a 200-day moving average price of $14.80. Extended Stay America Inc. has a 1-year low of $10.56 and a 1-year high of $19.86. The firm has a market cap of $2.77 billion, a P/E ratio of 25.48 and a beta of 0.95.

Extended Stay America (NYSE:STAY) last posted its earnings results on Thursday, July 28th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $337.47 million. Extended Stay America had a net margin of 8.71% and a return on equity of 12.83%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Extended Stay America Inc. will post $0.92 EPS for the current year.

STAY has been the topic of several recent analyst reports. Zacks Investment Research raised Extended Stay America from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Barclays PLC reissued an “overweight” rating and issued a $19.00 target price on shares of Extended Stay America in a report on Friday, September 30th. Bank of America Corp. reissued a “neutral” rating on shares of Extended Stay America in a report on Monday, July 18th. Goldman Sachs Group Inc. initiated coverage on Extended Stay America in a report on Monday, September 26th. They issued a “neutral” rating and a $14.00 target price on the stock. Finally, Citigroup Inc. reduced their price objective on Extended Stay America from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.67.

Several hedge funds have recently bought and sold shares of the company. Huntington National Bank bought a new stake in Extended Stay America during the second quarter worth $111,000. Fuller & Thaler Asset Management Inc. boosted its stake in Extended Stay America by 722.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 8,310 shares of the company’s stock worth $124,000 after buying an additional 7,300 shares during the last quarter. Barclays PLC boosted its stake in Extended Stay America by 2,175.9% in the second quarter. Barclays PLC now owns 9,263 shares of the company’s stock worth $139,000 after buying an additional 8,856 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in Extended Stay America during the second quarter worth $151,000. Finally, Acrospire Investment Management LLC bought a new stake in Extended Stay America during the first quarter worth $163,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

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