Morgan Stanley Sells 1,835,595 Shares of La Quinta Holdings Inc. (LQ)
Morgan Stanley lowered its stake in La Quinta Holdings Inc. (NYSE:LQ) by 55.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,445,549 shares of the company’s stock after selling 1,835,595 shares during the period. Morgan Stanley owned approximately 1.24% of La Quinta Holdings worth $19,543,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in La Quinta Holdings by 27.3% in the first quarter. UBS Group AG now owns 753,436 shares of the company’s stock worth $10,186,000 after buying an additional 161,432 shares during the period. Dimensional Fund Advisors LP boosted its stake in La Quinta Holdings by 29.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,475,351 shares of the company’s stock worth $46,986,000 after buying an additional 788,538 shares during the period. Geode Capital Management LLC boosted its stake in La Quinta Holdings by 2.9% in the first quarter. Geode Capital Management LLC now owns 628,621 shares of the company’s stock worth $8,498,000 after buying an additional 17,844 shares during the period. Capital Growth Management LP acquired a new position in La Quinta Holdings during the first quarter worth about $11,086,000. Finally, Vanguard Group Inc. raised its position in La Quinta Holdings by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,526,907 shares of the company’s stock worth $88,243,000 after buying an additional 224,138 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.
Shares of La Quinta Holdings Inc. (NYSE LQ) traded up 1.31% during midday trading on Tuesday, reaching $15.50. 1,383,130 shares of the company’s stock traded hands. The company has a market capitalization of $1.82 billion, a PE ratio of 47.11 and a beta of 1.86. The stock’s 50 day moving average is $14.78 and its 200-day moving average is $14.14. La Quinta Holdings Inc. has a 52 week low of $9.73 and a 52 week high of $15.72.
La Quinta Holdings (NYSE:LQ) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The business had revenue of $263.40 million for the quarter, compared to the consensus estimate of $260.44 million. La Quinta Holdings had a return on equity of 8.04% and a net margin of 3.91%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, analysts forecast that La Quinta Holdings Inc. will post $0.39 earnings per share for the current fiscal year.
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A number of research firms have issued reports on LQ. Zacks Investment Research raised shares of La Quinta Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Morgan Stanley raised shares of La Quinta Holdings from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.50 to $16.00 in a report on Thursday, June 15th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of La Quinta Holdings from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.41.
La Quinta Holdings Company Profile
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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