Iridian Asset Management LLC CT Grows Stake in Wyndham Worldwide Corp (WYN)
Iridian Asset Management LLC CT lifted its holdings in Wyndham Worldwide Corp (NYSE:WYN) by 40.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,188,588 shares of the company’s stock after acquiring an additional 631,648 shares during the quarter. Wyndham Worldwide Corp accounts for 2.0% of Iridian Asset Management LLC CT’s holdings, making the stock its 21st biggest position. Iridian Asset Management LLC CT owned approximately 2.16% of Wyndham Worldwide Corp worth $230,699,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Smithfield Trust Co. acquired a new stake in Wyndham Worldwide Corp during the second quarter valued at $170,000. Janus Henderson Group PLC grew its position in Wyndham Worldwide Corp by 861.3% during the second quarter. Janus Henderson Group PLC now owns 125,294 shares of the company’s stock valued at $12,581,000 after buying an additional 112,260 shares during the period. Lipe & Dalton acquired a new stake in Wyndham Worldwide Corp during the second quarter valued at $3,463,000. State of Tennessee Treasury Department grew its position in Wyndham Worldwide Corp by 16.6% during the second quarter. State of Tennessee Treasury Department now owns 101,473 shares of the company’s stock valued at $10,189,000 after buying an additional 14,437 shares during the period. Finally, Freestone Capital Holdings LLC grew its position in Wyndham Worldwide Corp by 9.0% during the second quarter. Freestone Capital Holdings LLC now owns 43,772 shares of the company’s stock valued at $4,395,000 after buying an additional 3,614 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.
In other news, Director George Herrera sold 311 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $105.82, for a total value of $32,910.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.39% of the company’s stock.
Wyndham Worldwide Corp (NYSE WYN) traded up $1.75 during trading hours on Friday, hitting $108.23. 967,100 shares of the stock traded hands, compared to its average volume of 1,130,881. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 9.00. The stock has a market capitalization of $11,040.00, a P/E ratio of 17.61 and a beta of 1.35. Wyndham Worldwide Corp has a 12-month low of $71.25 and a 12-month high of $110.74.
Wyndham Worldwide Corp (NYSE:WYN) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.01. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.67 billion. Wyndham Worldwide Corp had a net margin of 10.20% and a return on equity of 97.31%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. analysts expect that Wyndham Worldwide Corp will post 6.04 earnings per share for the current year.
Wyndham Worldwide Corp declared that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, November 24th. Wyndham Worldwide Corp’s dividend payout ratio is currently 41.65%.
WYN has been the topic of several analyst reports. Zacks Investment Research lowered shares of Wyndham Worldwide Corp from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BidaskClub lowered shares of Wyndham Worldwide Corp from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Telsey Advisory Group lowered shares of Wyndham Worldwide Corp from an “outperform” rating to a “market perform” rating and set a $115.00 target price on the stock. in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $108.29.
TRADEMARK VIOLATION NOTICE: This news story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/17/iridian-asset-management-llc-ct-grows-stake-in-wyndham-worldwide-corp-wyn.html.
Wyndham Worldwide Corp Profile
Wyndham Worldwide Corporation is a hospitality company. The Company offers a range of hospitality services and products through its global portfolio of brands. The Company operates through three segments: Wyndham Hotel Group, Wyndham Destination Network and Wyndham Vacation Ownership. The Company’s brands include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Howard Johnson, Wingate by Wyndham, Microtel Inns & Suites by Wyndham, TRYP by Wyndham, Dolce Hotels and Resorts, RCI, Landal GreenParks, Novasol, Hoseasons, cottages.com, James Villa Holidays, Wyndham Vacation Rentals, Wyndham Vacation Resorts, Shell Vacations Club and WorldMark by Wyndham.
Receive News & Stock Ratings for Wyndham Worldwide Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wyndham Worldwide Corp and related stocks with our FREE daily email newsletter.