Choice Hotels International Inc. (NYSE:CHH) CEO Stephen P. Joyce sold 32,000 shares of Choice Hotels International stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $45.09, for a total transaction of $1,442,880.00. Following the transaction, the chief executive officer now owns 180,548 shares in the company, valued at approximately $8,140,909.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Choice Hotels International Inc. (NYSE:CHH) opened at 44.82 on Tuesday. Choice Hotels International Inc. has a 52-week low of $40.78 and a 52-week high of $54.66. The stock has a 50 day moving average of $47.58 and a 200 day moving average of $48.49. The company has a market cap of $2.50 billion, a P/E ratio of 19.56 and a beta of 1.17.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $241.80 million for the quarter, compared to analyst estimates of $244.21 million. Choice Hotels International had a net margin of 14.32% and a negative return on equity of 33.53%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. On average, equities analysts anticipate that Choice Hotels International Inc. will post $2.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a $0.205 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.82 annualized dividend and a yield of 1.83%. Choice Hotels International’s dividend payout ratio is presently 36.28%.
Several research firms recently weighed in on CHH. Deutsche Bank AG restated a “hold” rating on shares of Choice Hotels International in a report on Sunday, June 26th. Zacks Investment Research raised shares of Choice Hotels International from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Morgan Stanley raised shares of Choice Hotels International from an “underweight” rating to an “equal weight” rating and set a $47.00 price target on the stock in a research note on Monday, September 26th. Wolfe Research assumed coverage on shares of Choice Hotels International in a research note on Wednesday, July 6th. They set a “market perform” rating on the stock. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Choice Hotels International in a research note on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.78.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHH. BTIM Corp. increased its stake in Choice Hotels International by 61.8% in the second quarter. BTIM Corp. now owns 681,326 shares of the company’s stock valued at $32,445,000 after buying an additional 260,282 shares in the last quarter. Citadel Advisors LLC increased its stake in Choice Hotels International by 124.6% in the second quarter. Citadel Advisors LLC now owns 457,760 shares of the company’s stock valued at $21,799,000 after buying an additional 253,948 shares in the last quarter. First Trust Advisors LP acquired a new stake in Choice Hotels International during the second quarter valued at approximately $9,280,000. Wellington Management Group LLP increased its stake in Choice Hotels International by 11.4% in the first quarter. Wellington Management Group LLP now owns 1,767,296 shares of the company’s stock valued at $95,522,000 after buying an additional 180,342 shares in the last quarter. Finally, Fenimore Asset Management Inc. acquired a new stake in Choice Hotels International during the second quarter valued at approximately $7,297,000. Hedge funds and other institutional investors own 49.90% of the company’s stock.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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