Choice Hotels International Inc. (NYSE:CHH) CEO Stephen P. Joyce sold 32,000 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $45.09, for a total value of $1,442,880.00. Following the completion of the sale, the chief executive officer now directly owns 180,548 shares of the company’s stock, valued at approximately $8,140,909.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Choice Hotels International Inc. (NYSE:CHH) opened at 45.08 on Monday. The stock has a market capitalization of $2.51 billion, a PE ratio of 19.68 and a beta of 1.17. The company’s 50-day moving average price is $47.69 and its 200 day moving average price is $48.58. Choice Hotels International Inc. has a 12 month low of $40.78 and a 12 month high of $54.66.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Choice Hotels International had a negative return on equity of 33.53% and a net margin of 14.32%. The company had revenue of $241.80 million for the quarter, compared to the consensus estimate of $244.21 million. During the same quarter in the prior year, the business earned $0.62 EPS. Choice Hotels International’s revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Choice Hotels International Inc. will post $2.40 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.82 annualized dividend and a dividend yield of 1.82%. Choice Hotels International’s dividend payout ratio is currently 36.28%.
Several brokerages have weighed in on CHH. Morgan Stanley raised Choice Hotels International from an “underweight” rating to an “equal weight” rating and set a $47.00 price target for the company in a report on Monday, September 26th. Zacks Investment Research raised Choice Hotels International from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Bank of America Corp. reissued a “buy” rating on shares of Choice Hotels International in a report on Monday, July 18th. Wolfe Research began coverage on Choice Hotels International in a report on Wednesday, July 6th. They issued a “market perform” rating for the company. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Choice Hotels International in a report on Sunday, June 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.78.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new position in Choice Hotels International during the second quarter valued at about $119,000. Legal & General Group Plc boosted its position in Choice Hotels International by 3.9% in the first quarter. Legal & General Group Plc now owns 2,391 shares of the company’s stock valued at $129,000 after buying an additional 90 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Choice Hotels International by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 3,440 shares of the company’s stock valued at $162,000 after buying an additional 40 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Choice Hotels International during the second quarter valued at about $218,000. Finally, BlackRock Inc. boosted its position in Choice Hotels International by 323.4% in the first quarter. BlackRock Inc. now owns 4,331 shares of the company’s stock valued at $234,000 after buying an additional 3,308 shares in the last quarter. 49.90% of the stock is owned by institutional investors and hedge funds.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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