Jane Street Group LLC lifted its stake in Extended Stay America (NYSE:STAY) by 483.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,725 shares of the company’s stock after acquiring an additional 55,288 shares during the period. Jane Street Group LLC’s holdings in Extended Stay America were worth $488,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC purchased a new stake in shares of Extended Stay America in the fourth quarter worth $31,000. Advisors Asset Management Inc. purchased a new stake in shares of Extended Stay America in the fourth quarter worth $44,000. Arlington Partners LLC purchased a new stake in shares of Extended Stay America in the first quarter worth $47,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Extended Stay America in the first quarter worth $79,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Extended Stay America in the first quarter worth $82,000. 96.67% of the stock is owned by hedge funds and other institutional investors.
Shares of STAY opened at $11.22 on Wednesday. The firm has a fifty day simple moving average of $11.39 and a two-hundred day simple moving average of $11.46. Extended Stay America has a 1-year low of $5.35 and a 1-year high of $17.20.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.36%. The ex-dividend date was Wednesday, May 20th.
In other news, insider Kevin A. Henry sold 8,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.93, for a total transaction of $92,905.00. Following the sale, the insider now directly owns 125,236 shares in the company, valued at approximately $1,368,829.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Wallman acquired 20,000 shares of Extended Stay America stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $10.81 per share, for a total transaction of $216,200.00. Following the completion of the transaction, the director now directly owns 140,806 shares in the company, valued at $1,522,112.86. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.
A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Extended Stay America from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, May 18th. Jefferies Financial Group upgraded Extended Stay America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $7.00 to $14.00 in a report on Wednesday, April 22nd. Barclays raised their target price on Extended Stay America from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Deutsche Bank reissued a “buy” rating and issued a $16.00 target price on shares of Extended Stay America in a research note on Friday, May 8th. Finally, Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research report on Thursday, May 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Extended Stay America has a consensus rating of “Hold” and an average target price of $13.80.
About Extended Stay America
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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