Marriott International (MAR) Sees Significant Decrease in Short Interest
Marriott International (NASDAQ:MAR) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 12,494,689 shares, a decline of 14.4% from the October 13th total of 14,599,423 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 2,144,245 shares, the days-to-cover ratio is currently 5.8 days.
Several analysts have weighed in on MAR shares. Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Berenberg Bank reiterated a “buy” rating and set a $125.00 price target on shares of Marriott International in a research note on Friday, August 18th. Royal Bank Of Canada reiterated a “buy” rating on shares of Marriott International in a research note on Tuesday, November 7th. Finally, SunTrust Banks, Inc. boosted their price target on Marriott International to $108.00 and gave the company a “hold” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Marriott International has a consensus rating of “Buy” and a consensus target price of $106.64.
Marriott International (NASDAQ MAR) opened at $124.38 on Friday. The firm has a market capitalization of $45,350.00, a PE ratio of 30.09, a P/E/G ratio of 3.08 and a beta of 1.34. Marriott International has a fifty-two week low of $76.88 and a fifty-two week high of $124.42. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.12. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. Marriott International’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. analysts forecast that Marriott International will post 4.24 earnings per share for the current fiscal year.
Marriott International announced that its board has approved a stock buyback program on Thursday, November 9th that permits the company to buyback 30,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 1.06%. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
In other Marriott International news, insider J W. Marriott, Jr. sold 26,362 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $101.78, for a total transaction of $2,683,124.36. Following the sale, the insider now owns 203,286 shares in the company, valued at approximately $20,690,449.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Edward A. Ryan sold 4,453 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $103.81, for a total value of $462,265.93. Following the sale, the executive vice president now owns 80,406 shares in the company, valued at approximately $8,346,946.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,977 shares of company stock worth $23,240,427. 11.32% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of MAR. Advisory Services Network LLC increased its stake in Marriott International by 1,490.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after buying an additional 1,058 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Marriott International during the 1st quarter worth approximately $115,000. Baker Ellis Asset Management LLC purchased a new stake in Marriott International during the 2nd quarter worth approximately $133,000. First Quadrant L P CA purchased a new stake in Marriott International during the 3rd quarter worth approximately $136,000. Finally, Grove Bank & Trust increased its stake in Marriott International by 214.8% during the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after buying an additional 840 shares in the last quarter. Institutional investors own 65.88% of the company’s stock.
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Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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