La Quinta Holdings Inc. (LQ) Stake Decreased by Swiss National Bank
Swiss National Bank lessened its holdings in shares of La Quinta Holdings Inc. (NYSE:LQ) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,200 shares of the company’s stock after selling 8,400 shares during the period. Swiss National Bank owned approximately 0.12% of La Quinta Holdings worth $2,012,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in LQ. Vanguard Group Inc. lifted its stake in La Quinta Holdings by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 6,526,907 shares of the company’s stock valued at $88,243,000 after acquiring an additional 224,138 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in La Quinta Holdings by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,475,351 shares of the company’s stock valued at $46,986,000 after acquiring an additional 788,538 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in La Quinta Holdings by 68.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,092,505 shares of the company’s stock valued at $45,676,000 after acquiring an additional 1,258,565 shares in the last quarter. Citadel Advisors LLC lifted its stake in La Quinta Holdings by 12.8% in the 1st quarter. Citadel Advisors LLC now owns 3,087,851 shares of the company’s stock valued at $41,748,000 after acquiring an additional 349,367 shares in the last quarter. Finally, State Street Corp lifted its stake in La Quinta Holdings by 5.0% in the 1st quarter. State Street Corp now owns 1,688,694 shares of the company’s stock valued at $22,830,000 after acquiring an additional 81,057 shares in the last quarter. Institutional investors and hedge funds own 97.02% of the company’s stock.
Several equities research analysts have commented on LQ shares. Morgan Stanley upgraded La Quinta Holdings from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.50 to $16.00 in a research note on Thursday, June 15th. They noted that the move was a valuation call. Zacks Investment Research cut La Quinta Holdings from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. BidaskClub upgraded La Quinta Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, TheStreet upgraded La Quinta Holdings from a “c” rating to a “b” rating in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.29.
Shares of La Quinta Holdings Inc. (NYSE:LQ) opened at 17.25 on Friday. La Quinta Holdings Inc. has a 1-year low of $9.73 and a 1-year high of $17.74. The firm has a 50-day moving average price of $16.34 and a 200 day moving average price of $14.80. The company has a market cap of $2.03 billion, a PE ratio of 48.73 and a beta of 1.88.
La Quinta Holdings (NYSE:LQ) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. La Quinta Holdings had a return on equity of 7.28% and a net margin of 4.13%. The business had revenue of $263.40 million for the quarter, compared to analyst estimates of $260.44 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts anticipate that La Quinta Holdings Inc. will post $0.40 earnings per share for the current year.
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About La Quinta Holdings
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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