Shanoop Kothari Acquires 800,000 Shares of LuxUrban Hotels Inc. (NASDAQ:LUXH) Stock

LuxUrban Hotels Inc. (NASDAQ:LUXH) CEO Shanoop Kothari acquired 800,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $0.25 per share, with a total value of $200,000.00. Following the purchase, the chief executive officer now owns 3,444,526 shares of the company’s stock, valued at approximately $861,131.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

LuxUrban Hotels Stock Up 21.5 %

Shares of NASDAQ:LUXH opened at $0.36 on Monday. The firm’s 50 day moving average price is $1.07 and its 200 day moving average price is $3.10. The stock has a market cap of $16.21 million, a price-to-earnings ratio of -0.15 and a beta of -0.93. LuxUrban Hotels Inc. has a fifty-two week low of $0.24 and a fifty-two week high of $6.88. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23.

LuxUrban Hotels (NASDAQ:LUXH) last issued its earnings results on Monday, April 15th. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $27.51 million during the quarter. LuxUrban Hotels had a negative net margin of 77.31% and a negative return on equity of 303.00%. As a group, equities research analysts predict that LuxUrban Hotels Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of LuxUrban Hotels

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUXH. Russell Investments Group Ltd. acquired a new stake in LuxUrban Hotels during the fourth quarter worth approximately $1,532,000. Perritt Capital Management Inc. raised its holdings in LuxUrban Hotels by 684.0% during the fourth quarter. Perritt Capital Management Inc. now owns 156,800 shares of the company’s stock worth $936,000 after purchasing an additional 136,800 shares in the last quarter. Calamos Advisors LLC acquired a new stake in LuxUrban Hotels during the fourth quarter worth approximately $714,000. EAM Investors LLC acquired a new stake in LuxUrban Hotels during the third quarter worth approximately $537,000. Finally, Ancora Advisors LLC raised its holdings in LuxUrban Hotels by 71.9% during the third quarter. Ancora Advisors LLC now owns 255,776 shares of the company’s stock worth $1,192,000 after purchasing an additional 107,012 shares in the last quarter. Institutional investors and hedge funds own 28.46% of the company’s stock.

Wall Street Analysts Forecast Growth

LUXH has been the subject of several recent research reports. Jonestrading reissued a “buy” rating and issued a $4.00 price objective (down previously from $10.00) on shares of LuxUrban Hotels in a research note on Wednesday, April 17th. Maxim Group reissued a “hold” rating on shares of LuxUrban Hotels in a research note on Wednesday, May 15th. Finally, Northland Securities cut shares of LuxUrban Hotels from an “outperform” rating to a “market perform” rating in a report on Monday, May 6th.

About LuxUrban Hotels

LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.