Connor Clark & Lunn Investment Management Ltd. Invests $8.51 Million in Hyatt Hotels Corporation $H

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hyatt Hotels Corporation (NYSE:H) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 77,152 shares of the company’s stock, valued at approximately $8,508,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Hyatt Hotels as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Delta Global Management LP purchased a new position in Hyatt Hotels during the first quarter valued at approximately $2,151,000. Truist Financial Corp increased its holdings in Hyatt Hotels by 970.8% during the 4th quarter. Truist Financial Corp now owns 18,524 shares of the company’s stock worth $2,970,000 after acquiring an additional 16,794 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Hyatt Hotels by 345.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,869 shares of the company’s stock worth $1,422,000 after purchasing an additional 6,877 shares in the last quarter. Accredited Investors Inc. bought a new position in Hyatt Hotels in the 4th quarter valued at $1,146,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Hyatt Hotels by 8,321.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 188,551 shares of the company’s stock valued at $30,228,000 after purchasing an additional 186,312 shares during the period. 73.54% of the stock is owned by institutional investors.

Insider Activity

In other news, insider David Udell sold 2,087 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $188.00, for a total transaction of $392,356.00. Following the transaction, the insider directly owned 16,638 shares in the company, valued at approximately $3,127,944. This represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan D. Kronick sold 1,700 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $179.88, for a total value of $305,796.00. Following the transaction, the director directly owned 29,525 shares in the company, valued at approximately $5,310,957. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,004 shares of company stock worth $2,595,040. 23.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of Hyatt Hotels from $186.00 to $202.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. JPMorgan Chase & Co. dropped their price objective on Hyatt Hotels from $215.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Truist Financial boosted their target price on Hyatt Hotels from $181.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Hyatt Hotels in a research note on Wednesday, June 24th. Finally, Susquehanna raised their price target on Hyatt Hotels from $180.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Hyatt Hotels Stock Performance

Hyatt Hotels stock opened at $177.34 on Thursday. Hyatt Hotels Corporation has a fifty-two week low of $134.18 and a fifty-two week high of $206.86. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $16.71 billion, a P/E ratio of 216.27 and a beta of 1.33. The firm’s fifty day moving average price is $186.14 and its 200-day moving average price is $172.65.

Hyatt Hotels (NYSE:H) last announced its earnings results on Thursday, July 30th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.21. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.82 billion. Hyatt Hotels had a net margin of 1.10% and a return on equity of 7.27%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. On average, equities research analysts expect that Hyatt Hotels Corporation will post 3.54 earnings per share for the current fiscal year.

Hyatt Hotels Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, August 27th. Hyatt Hotels’s dividend payout ratio is presently 73.17%.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.