Extended Stay America (NYSE:STAY) Insider Purchases $108,150.00 in Stock

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Extended Stay America (NYSE:STAY) insider Bruce N. Haase acquired 7,500 shares of Extended Stay America stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $14.42 per share, for a total transaction of $108,150.00. Following the completion of the purchase, the insider now directly owns 293,870 shares of the company’s stock, valued at $4,237,605.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of STAY traded down $0.19 during mid-day trading on Wednesday, reaching $14.19. The company had a trading volume of 2,326,331 shares, compared to its average volume of 1,842,098. The company’s 50 day simple moving average is $14.57 and its 200 day simple moving average is $15.48. Extended Stay America has a 1-year low of $12.88 and a 1-year high of $19.73.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $332.70 million for the quarter, compared to the consensus estimate of $331.69 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.48%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Echo Street Capital Management LLC boosted its stake in shares of Extended Stay America by 3.6% in the 2nd quarter. Echo Street Capital Management LLC now owns 1,454,161 shares of the company’s stock valued at $24,561,000 after purchasing an additional 51,057 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Extended Stay America by 389.2% in the 2nd quarter. Jane Street Group LLC now owns 85,035 shares of the company’s stock valued at $1,436,000 after purchasing an additional 67,654 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Extended Stay America by 35.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 11,900 shares of the company’s stock valued at $200,000 after purchasing an additional 3,100 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Extended Stay America by 141.9% in the 3rd quarter. Squarepoint Ops LLC now owns 432,583 shares of the company’s stock valued at $6,333,000 after purchasing an additional 253,786 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of Extended Stay America by 1,521.8% in the 2nd quarter. Sterling Capital Management LLC now owns 2,506,980 shares of the company’s stock valued at $42,343,000 after purchasing an additional 2,352,398 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.

A number of brokerages have issued reports on STAY. Stifel Nicolaus reduced their price objective on shares of Extended Stay America from $20.50 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank reiterated a “buy” rating and set a $19.00 price objective on shares of Extended Stay America in a research note on Sunday, November 24th. Robert W. Baird set a $19.00 price objective on shares of Extended Stay America and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley downgraded shares of Extended Stay America from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $15.00 in a research note on Friday, August 9th. Finally, Barclays set a $17.00 price objective on shares of Extended Stay America and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Extended Stay America Company Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

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