Extended Stay America Inc. (NYSE:STAY) major shareholder Paulson & Co. Inc. sold 4,983,333 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $14.16, for a total transaction of $70,563,995.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Extended Stay America Inc. (NYSE:STAY) opened at 13.81 on Monday. The company has a market capitalization of $2.77 billion, a P/E ratio of 25.48 and a beta of 0.95. The firm has a 50-day moving average of $14.31 and a 200-day moving average of $14.80. Extended Stay America Inc. has a 12 month low of $10.56 and a 12 month high of $19.86.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $332.80 million for the quarter, compared to analyst estimates of $337.47 million. Extended Stay America had a net margin of 8.71% and a return on equity of 12.83%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities analysts predict that Extended Stay America Inc. will post $0.92 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Extended Stay America by 72.7% in the second quarter. Ameriprise Financial Inc. now owns 2,773,538 shares of the company’s stock valued at $41,455,000 after buying an additional 1,167,857 shares in the last quarter. CI Global Investments Inc. boosted its stake in Extended Stay America by 10.7% in the second quarter. CI Global Investments Inc. now owns 8,050,531 shares of the company’s stock valued at $120,355,000 after buying an additional 779,571 shares in the last quarter. Prudential Financial Inc. boosted its stake in Extended Stay America by 58.9% in the first quarter. Prudential Financial Inc. now owns 1,747,010 shares of the company’s stock valued at $28,476,000 after buying an additional 647,240 shares in the last quarter. Norges Bank bought a new stake in Extended Stay America during the fourth quarter valued at approximately $9,502,000. Finally, Simcoe Capital Management LLC boosted its stake in Extended Stay America by 29.9% in the second quarter. Simcoe Capital Management LLC now owns 1,403,947 shares of the company’s stock valued at $20,989,000 after buying an additional 323,362 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on STAY shares. Zacks Investment Research upgraded shares of Extended Stay America from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Citigroup Inc. dropped their price objective on shares of Extended Stay America from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Bank of America Corp. reiterated a “neutral” rating on shares of Extended Stay America in a report on Monday, July 18th. Goldman Sachs Group Inc. started coverage on shares of Extended Stay America in a report on Monday, September 26th. They set a “neutral” rating and a $14.00 price objective on the stock. Finally, Deutsche Bank AG dropped their price objective on shares of Extended Stay America from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Extended Stay America currently has a consensus rating of “Hold” and an average price target of $17.67.
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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