Cadian Capital Management LP Purchases 355,000 Shares of Hyatt Hotels Co. (NYSE:H)
Cadian Capital Management LP lifted its stake in shares of Hyatt Hotels Co. (NYSE:H – Free Report) by 157.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 580,000 shares of the company’s stock after buying an additional 355,000 shares during the quarter. Hyatt Hotels comprises about 3.1% of Cadian Capital Management LP’s portfolio, making the stock its 14th largest holding. Cadian Capital Management LP owned approximately 0.55% of Hyatt Hotels worth $66,456,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. First Manhattan CO. LLC. acquired a new stake in Hyatt Hotels in the 1st quarter worth about $25,000. Quarry LP acquired a new stake in Hyatt Hotels in the 1st quarter worth about $26,000. UniSuper Management Pty Ltd acquired a new stake in Hyatt Hotels in the 2nd quarter worth about $34,000. Money Concepts Capital Corp raised its stake in Hyatt Hotels by 335.2% in the 4th quarter. Money Concepts Capital Corp now owns 383 shares of the company’s stock worth $35,000 after purchasing an additional 295 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Hyatt Hotels in the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 46.03% of the company’s stock.
Insider Activity at Hyatt Hotels
In related news, insider Malaika Myers sold 3,351 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $120.35, for a total transaction of $403,292.85. Following the transaction, the insider now owns 15,956 shares in the company, valued at approximately $1,920,304.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hyatt Hotels news, insider Malaika Myers sold 3,351 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $120.35, for a total transaction of $403,292.85. Following the transaction, the insider now owns 15,956 shares in the company, valued at $1,920,304.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard C. Tuttle acquired 1,250 shares of the stock in a transaction on Thursday, September 21st. The shares were acquired at an average price of $104.49 per share, for a total transaction of $130,612.50. Following the acquisition, the director now owns 35,877 shares of the company’s stock, valued at approximately $3,748,787.73. The disclosure for this purchase can be found here. 21.24% of the stock is owned by corporate insiders.
Hyatt Hotels Trading Up 1.5 %
Shares of NYSE:H traded up $1.82 during trading on Friday, reaching $122.64. The stock had a trading volume of 832,561 shares, compared to its average volume of 689,856. The firm’s fifty day moving average is $108.93 and its 200 day moving average is $111.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.72 and a current ratio of 0.73. Hyatt Hotels Co. has a 52 week low of $88.01 and a 52 week high of $127.80. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 23.95 and a beta of 1.37.
Hyatt Hotels (NYSE:H – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. Hyatt Hotels had a net margin of 7.40% and a return on equity of 13.25%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.62 billion. As a group, equities analysts forecast that Hyatt Hotels Co. will post 2.34 EPS for the current fiscal year.
Hyatt Hotels Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Wednesday, November 22nd were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, November 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.49%. Hyatt Hotels’s payout ratio is presently 13.39%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. HSBC assumed coverage on shares of Hyatt Hotels in a research report on Monday, October 23rd. They issued a “buy” rating and a $133.00 target price for the company. StockNews.com cut shares of Hyatt Hotels from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Sanford C. Bernstein boosted their target price on shares of Hyatt Hotels from $136.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, August 14th. Morgan Stanley dropped their target price on shares of Hyatt Hotels from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus dropped their target price on shares of Hyatt Hotels from $119.00 to $115.00 and set a “hold” rating for the company in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $121.91.
View Our Latest Stock Report on H
Hyatt Hotels Profile (Free Report)
Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME/SW Asia Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, resorts, and other properties, including timeshare, fractional, residential, vacation, and condominium units.
Further Reading
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