Hyatt Hotels Corp. (H) Shares Gap Down Following Insider Selling
Hyatt Hotels Corp. (NYSE:H)’s share price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $53.95, but opened at $52.77. Hyatt Hotels Corp. shares last traded at $51.34, with a volume of 3,362,964 shares trading hands.
Specifically, major shareholder Gregory Boyd Penner sold 4,000,000 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $50.80, for a total value of $203,200,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 25.50% of the stock is currently owned by insiders.
Several brokerages have issued reports on H. Zacks Investment Research cut shares of Hyatt Hotels Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Vetr cut shares of Hyatt Hotels Corp. from a “hold” rating to a “sell” rating and set a $50.60 target price on the stock. in a report on Thursday, August 25th. cut shares of Hyatt Hotels Corp. from an “outperform” rating to an “underperform” rating in a report on Wednesday, November 2nd. Morgan Stanley cut shares of Hyatt Hotels Corp. from an “equal weight” rating to an “underweight” rating and set a $46.00 target price on the stock. in a report on Monday, September 26th. Finally, Nomura cut shares of Hyatt Hotels Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, October 25th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $51.29.
The company’s 50-day moving average is $51.46 and its 200 day moving average is $50.48. The company has a market capitalization of $6.72 billion, a PE ratio of 34.95 and a beta of 1.41.
Hyatt Hotels Corp. (NYSE:H) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. Hyatt Hotels Corp. had a net margin of 4.49% and a return on equity of 5.33%. During the same period last year, the company posted $0.30 EPS. On average, equities research analysts anticipate that Hyatt Hotels Corp. will post $1.63 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in Hyatt Hotels Corp. by 3.1% in the second quarter. Legal & General Group Plc now owns 3,217 shares of the company’s stock valued at $158,000 after buying an additional 97 shares in the last quarter. Brave Asset Management Inc purchased a new position in Hyatt Hotels Corp. during the second quarter valued at $167,000. The Manufacturers Life Insurance Company purchased a new position in Hyatt Hotels Corp. during the third quarter valued at $188,000. Pacer Advisors Inc. increased its position in Hyatt Hotels Corp. by 500.9% in the second quarter. Pacer Advisors Inc. now owns 4,062 shares of the company’s stock valued at $199,000 after buying an additional 3,386 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Hyatt Hotels Corp. during the third quarter valued at $201,000. 18.99% of the stock is owned by institutional investors.
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Hyatt Hotels Corp. Company Profile
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties, consisting of full service hotels, select service hotels, resorts and other properties, including timeshare, fractional and other forms of residential and vacation properties.
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