Extended Stay America Inc (NYSE:STAY) insider Kevin A. Henry sold 10,000 shares of Extended Stay America stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $19.23, for a total transaction of $192,300.00. Following the sale, the insider now owns 117,196 shares of the company’s stock, valued at $2,253,679.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Extended Stay America Inc (STAY) opened at $19.88 on Friday. The company has a market cap of $3,736.20, a P/E ratio of 48.49, a price-to-earnings-growth ratio of 3.49 and a beta of 0.96. Extended Stay America Inc has a one year low of $15.62 and a one year high of $21.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.12 and a current ratio of 0.12.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $302.50 million for the quarter, compared to the consensus estimate of $299.75 million. Extended Stay America had a net margin of 6.15% and a return on equity of 14.42%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. sell-side analysts predict that Extended Stay America Inc will post 1.1 EPS for the current fiscal year.
Extended Stay America declared that its board has approved a stock repurchase program on Tuesday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently bought and sold shares of the business. Howe & Rusling Inc. purchased a new position in shares of Extended Stay America during the fourth quarter worth approximately $116,000. The Manufacturers Life Insurance Company raised its stake in shares of Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after acquiring an additional 367 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Extended Stay America by 108.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 7,073 shares of the company’s stock worth $141,000 after acquiring an additional 3,678 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Extended Stay America by 1,359.4% during the fourth quarter. CENTRAL TRUST Co now owns 8,304 shares of the company’s stock worth $158,000 after acquiring an additional 7,735 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Extended Stay America during the third quarter worth approximately $175,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, February 21st. Stifel Nicolaus reiterated a “buy” rating and set a $19.50 target price (up from $19.25) on shares of Extended Stay America in a research report on Tuesday, December 19th. JPMorgan Chase & Co. upgraded shares of Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 target price for the company in a research report on Wednesday, December 13th. Finally, Barclays reiterated an “overweight” rating and set a $22.00 target price (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Extended Stay America presently has an average rating of “Buy” and a consensus price target of $21.06.
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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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