Stephen P. Joyce Sells 2,600 Shares of Choice Hotels International Inc. (CHH) Stock
Choice Hotels International Inc. (NYSE:CHH) CEO Stephen P. Joyce sold 2,600 shares of the stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $50.00, for a total transaction of $130,000.00. Following the completion of the transaction, the chief executive officer now directly owns 161,349 shares in the company, valued at $8,067,450. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Choice Hotels International Inc. (NYSE:CHH) opened at 49.60 on Monday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 20.56 and a beta of 0.97. The company’s 50 day moving average is $46.09 and its 200 day moving average is $47.29. Choice Hotels International Inc. has a 52-week low of $40.78 and a 52-week high of $54.32.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. Choice Hotels International had a net margin of 14.58% and a negative return on equity of 36.59%. The business had revenue of $267.60 million for the quarter, compared to analysts’ expectations of $252.77 million. During the same period in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts anticipate that Choice Hotels International Inc. will post $2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 3rd were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, September 29th. Choice Hotels International’s dividend payout ratio (DPR) is presently 34.45%.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Choice Hotels International from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Morgan Stanley reissued a “sell” rating and issued a $48.00 price target on shares of Choice Hotels International in a report on Wednesday, August 3rd. Finally, Bank of America Corp. reissued a “buy” rating on shares of Choice Hotels International in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.13.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its position in Choice Hotels International by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 3,440 shares of the company’s stock worth $162,000 after buying an additional 40 shares during the last quarter. BlackRock Investment Management LLC boosted its position in Choice Hotels International by 1.0% in the third quarter. BlackRock Investment Management LLC now owns 14,018 shares of the company’s stock worth $632,000 after buying an additional 135 shares during the last quarter. Sei Investments Co. boosted its position in Choice Hotels International by 0.6% in the second quarter. Sei Investments Co. now owns 23,591 shares of the company’s stock worth $1,123,000 after buying an additional 149 shares during the last quarter. Alliancebernstein L.P. boosted its position in Choice Hotels International by 1.3% in the second quarter. Alliancebernstein L.P. now owns 18,865 shares of the company’s stock worth $898,000 after buying an additional 250 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Choice Hotels International by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 62,970 shares of the company’s stock worth $2,999,000 after buying an additional 268 shares during the last quarter. Institutional investors and hedge funds own 50.50% of the company’s stock.
Choice Hotels International Company Profile
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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