State Board of Administration of Florida Retirement System reduced its stake in Hyatt Hotels Co. (NYSE:H) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,191 shares of the company’s stock after selling 3,150 shares during the period. State Board of Administration of Florida Retirement System owned about 0.05% of Hyatt Hotels worth $4,130,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new position in Hyatt Hotels in the 2nd quarter worth approximately $33,000. Canada Pension Plan Investment Board increased its stake in Hyatt Hotels by 31.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 746 shares of the company’s stock worth $62,000 after purchasing an additional 180 shares during the period. Wolverine Asset Management LLC purchased a new position in Hyatt Hotels in the 1st quarter worth approximately $87,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Hyatt Hotels in the 2nd quarter worth approximately $139,000. Finally, Octavia Wealth Advisors LLC bought a new stake in shares of Hyatt Hotels in the 1st quarter worth approximately $210,000. 38.99% of the stock is currently owned by institutional investors and hedge funds.
In other Hyatt Hotels news, insider Texas 8-26-22 Trust 2 sold 16,763 shares of the business’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $69.36, for a total value of $1,162,681.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 350,064 shares of company stock worth $26,096,233 over the last three months. Corporate insiders own 22.80% of the company’s stock.
Hyatt Hotels (NYSE:H) last released its earnings results on Monday, August 2nd. The company reported ($1.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by ($0.30). Hyatt Hotels had a negative return on equity of 26.17% and a negative net margin of 35.19%. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $661.83 million. On average, research analysts anticipate that Hyatt Hotels Co. will post -5.4 earnings per share for the current year.
H has been the topic of a number of recent analyst reports. TheStreet lowered Hyatt Hotels from a “c-” rating to a “d+” rating in a research report on Tuesday, September 7th. Stifel Nicolaus lifted their price objective on Hyatt Hotels from $74.00 to $76.50 and gave the stock a “hold” rating in a research report on Monday, August 16th. Berenberg Bank lifted their price objective on Hyatt Hotels from $55.00 to $60.00 and gave the stock a “sell” rating in a research report on Friday, June 4th. Truist Securities upgraded Hyatt Hotels from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a research report on Tuesday, August 17th. Finally, Morgan Stanley lifted their price objective on Hyatt Hotels from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 18th. One equities research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.03.
Hyatt Hotels Profile
Hyatt Hotels Corp. engages in the development and management of resort and hotel chains. It operates through the following segments: Owned and Leased Hotels; Americas Management and Franchising; ASPAC Management and Franchising; and EAME/SW Asia management and Franchising. The Owned and Leased Hotels segment offers hospitality services and hotels.
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