Extended Stay America Inc. (NYSE:STAY) major shareholder Paulson & Co. Inc. sold 4,983,333 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $14.16, for a total value of $70,563,995.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Extended Stay America Inc. (NYSE:STAY) opened at 13.37 on Wednesday. Extended Stay America Inc. has a one year low of $10.56 and a one year high of $19.86. The stock’s 50 day moving average price is $14.26 and its 200-day moving average price is $14.77. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.67 and a beta of 0.95.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The business earned $332.80 million during the quarter, compared to the consensus estimate of $337.47 million. Extended Stay America had a return on equity of 12.83% and a net margin of 8.71%. Extended Stay America’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. On average, equities research analysts expect that Extended Stay America Inc. will post $0.92 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Barclays PLC restated an “overweight” rating and issued a $19.00 target price on shares of Extended Stay America in a report on Friday, September 30th. Goldman Sachs Group Inc. assumed coverage on Extended Stay America in a report on Monday, September 26th. They issued a “neutral” rating and a $14.00 target price for the company. Citigroup Inc. reduced their target price on Extended Stay America from $15.50 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, August 17th. Zacks Investment Research upgraded Extended Stay America from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Deutsche Bank AG reduced their target price on Extended Stay America from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, July 29th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.67.
Several hedge funds and other institutional investors have recently bought and sold shares of STAY. Ameriprise Financial Inc. increased its position in Extended Stay America by 72.7% in the second quarter. Ameriprise Financial Inc. now owns 2,773,538 shares of the company’s stock worth $41,455,000 after buying an additional 1,167,857 shares in the last quarter. CI Global Investments Inc. increased its position in Extended Stay America by 10.7% in the second quarter. CI Global Investments Inc. now owns 8,050,531 shares of the company’s stock worth $120,355,000 after buying an additional 779,571 shares in the last quarter. Prudential Financial Inc. increased its position in Extended Stay America by 58.9% in the first quarter. Prudential Financial Inc. now owns 1,747,010 shares of the company’s stock worth $28,476,000 after buying an additional 647,240 shares in the last quarter. Norges Bank bought a new position in Extended Stay America during the fourth quarter worth $9,502,000. Finally, Simcoe Capital Management LLC increased its position in Extended Stay America by 29.9% in the second quarter. Simcoe Capital Management LLC now owns 1,403,947 shares of the company’s stock worth $20,989,000 after buying an additional 323,362 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.
About Extended Stay America
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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