Marriott International Inc. (MAR) Sees Significant Drop in Short Interest
Marriott International Inc. (NASDAQ:MAR) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 17,048,080 shares, a decrease of 70.4% from the September 15th total of 57,558,746 shares. Based on an average daily trading volume, of 7,789,465 shares, the short-interest ratio is currently 2.2 days. Approximately 5.2% of the company’s stock are sold short.
Several brokerages have recently commented on MAR. Vetr downgraded shares of Marriott International from a “buy” rating to a “hold” rating and set a $76.32 target price for the company. in a report on Monday, August 22nd. Credit Agricole SA upgraded shares of Marriott International from an “underperform” rating to an “outperform” rating in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Morgan Stanley lowered their target price on shares of Marriott International from $74.00 to $73.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Finally, Sanford C. Bernstein began coverage on shares of Marriott International in a report on Thursday, September 8th. They issued an “outperform” rating and a $87.00 target price for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marriott International currently has a consensus rating of “Buy” and an average price target of $78.09.
In other news, EVP Anthony Capuano sold 22,538 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.60, for a total value of $1,658,796.80. Following the completion of the sale, the executive vice president now owns 76,184 shares in the company, valued at $5,607,142.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard E. Marriott sold 71,287 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total transaction of $5,000,070.18. Following the completion of the sale, the insider now owns 12,223,365 shares of the company’s stock, valued at approximately $857,346,821.10. The disclosure for this sale can be found here. Company insiders own 17.07% of the company’s stock.
A number of institutional investors have recently modified their holdings of MAR. Tiverton Asset Management LLC acquired a new stake in Marriott International during the first quarter valued at approximately $12,852,000. Riverhead Capital Management LLC raised its stake in Marriott International by 17.6% in the first quarter. Riverhead Capital Management LLC now owns 115,192 shares of the company’s stock valued at $8,200,000 after buying an additional 17,203 shares during the last quarter. AXA raised its stake in Marriott International by 38.5% in the first quarter. AXA now owns 13,300 shares of the company’s stock valued at $947,000 after buying an additional 3,700 shares during the last quarter. Primecap Management Co. CA raised its stake in Marriott International by 150.0% in the first quarter. Primecap Management Co. CA now owns 300,000 shares of the company’s stock valued at $21,354,000 after buying an additional 180,000 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in Marriott International by 32.8% in the first quarter. Rafferty Asset Management LLC now owns 17,674 shares of the company’s stock valued at $1,258,000 after buying an additional 4,367 shares during the last quarter. 73.74% of the stock is owned by institutional investors and hedge funds.
Shares of Marriott International (NASDAQ:MAR) opened at 67.27 on Friday. The company has a 50-day moving average of $68.96 and a 200-day moving average of $68.76. The stock has a market capitalization of $17.11 billion, a P/E ratio of 20.04 and a beta of 1.28. Marriott International has a 52 week low of $56.43 and a 52 week high of $79.88.
Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. Marriott International had a negative return on equity of 25.25% and a net margin of 5.87%. The business earned $3.90 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. Marriott International’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Marriott International will post $3.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 23rd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, September 21st. Marriott International’s dividend payout ratio (DPR) is 35.71%.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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