Red Lion Hotels Corp. (RLH) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Red Lion Hotels Corp. (NYSE:RLH) from a hold rating to a buy rating in a report issued on Friday morning. They currently have $9.50 price target on the stock.
According to Zacks, “WestCoast Hospitality Corporation serves the western United States with thousands of hotel rooms in different hotels. WestCoast provides entertainment services through TicketsWest.com, which encompasses a computerized ticket company with operations in Washington, Oregon, Idaho, Montana and Colorado, and WestCoast Entertainment, a Broadway and special event presenting company. TicketsWest.com services are available through its website, at www.TicketsWest.com, stand-alone outlets and a 24-hour toll free call center. (PRESS RELEASE) “
Separately, B. Riley reiterated a buy rating and set a $11.00 price objective on shares of Red Lion Hotels Corp. in a report on Thursday, July 28th.
Shares of Red Lion Hotels Corp. (NYSE:RLH) traded up 0.12% on Friday, hitting $8.49. The stock had a trading volume of 2,182 shares. Red Lion Hotels Corp. has a 52 week low of $5.45 and a 52 week high of $8.90. The stock’s 50-day moving average price is $7.42 and its 200 day moving average price is $7.61. The company’s market cap is $171.74 million.
Several hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. acquired a new stake in Red Lion Hotels Corp. during the second quarter worth about $162,000. Teachers Advisors Inc. acquired a new stake in Red Lion Hotels Corp. during the second quarter worth about $170,000. California State Teachers Retirement System acquired a new stake in Red Lion Hotels Corp. during the second quarter worth about $216,000. Mesirow Financial Investment Management Equity Management boosted its stake in Red Lion Hotels Corp. by 12.7% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 37,836 shares of the company’s stock worth $275,000 after buying an additional 4,253 shares during the last quarter. Finally, Mesirow Financial Investment Management US Value Equity acquired a new stake in Red Lion Hotels Corp. during the first quarter worth about $283,000. 64.53% of the stock is owned by institutional investors.
About Red Lion Hotels Corp.
Red Lion Hotels Corporation (RLHC) is a hospitality and leisure company. The Company is engaged in the franchising, management and ownership of hotels under the brands, including Hotel RL, Red Lion Hotel, Red Lion Inn & Suites, GuestHouse and Settle Inn & Suites (collectively the RLHC Brands). The RLHC brands represent upscale, midscale and economy hotels.
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