Bruce Bainum Sells 75,000 Shares of Choice Hotels International, Inc. (CHH) Stock
Choice Hotels International, Inc. (NYSE:CHH) major shareholder Bruce Bainum sold 75,000 shares of Choice Hotels International stock in a transaction on Friday, January 13th. The shares were sold at an average price of $54.38, for a total value of $4,078,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Bruce Bainum also recently made the following trade(s):
- On Monday, January 9th, Bruce Bainum sold 48,000 shares of Choice Hotels International stock. The shares were sold at an average price of $54.15, for a total value of $2,599,200.00.
- On Tuesday, January 10th, Bruce Bainum sold 103,000 shares of Choice Hotels International stock. The shares were sold at an average price of $54.22, for a total value of $5,584,660.00.
Choice Hotels International, Inc. (NYSE:CHH) opened at 54.40 on Friday. Choice Hotels International, Inc. has a 52 week low of $41.15 and a 52 week high of $57.38. The firm’s 50 day moving average price is $54.62 and its 200-day moving average price is $49.36. The firm has a market cap of $3.03 billion, a PE ratio of 22.55 and a beta of 0.99.
Choice Hotels International (NYSE:CHH) last announced its earnings results on Thursday, October 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.05. Choice Hotels International had a net margin of 14.58% and a negative return on equity of 36.59%. The company had revenue of $267.60 million for the quarter, compared to the consensus estimate of $252.77 million. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Choice Hotels International, Inc. will post $2.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 18th. Shareholders of record on Wednesday, January 4th will be paid a dividend of $0.215 per share. This is an increase from Choice Hotels International’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, December 30th. Choice Hotels International’s payout ratio is 36.13%.
Hedge funds have recently made changes to their positions in the stock. Jensen Investment Management Inc. purchased a new stake in shares of Choice Hotels International during the second quarter valued at about $420,000. Capital Fund Management S.A. bought a new position in Choice Hotels International during the second quarter worth $1,510,000. Emerald Acquisition Ltd. bought a new position in Choice Hotels International during the second quarter worth $1,420,000. Glenmede Trust Co. NA increased 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 worth $162,000 after buying an additional 40 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Choice Hotels International by 3,314.2% in the second quarter. JPMorgan Chase & Co. now owns 36,668 shares of the company’s stock worth $1,747,000 after buying an additional 35,594 shares during the period. 48.69% of the stock is currently owned by institutional investors.
CHH has been the subject of a number of recent analyst reports. MKM Partners raised Choice Hotels International from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $42.00 to $53.00 in a research report on Monday, December 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $47.00 price objective (down previously from $48.00) on shares of Choice Hotels International in a research report on Tuesday, November 15th. Zacks Investment Research raised Choice Hotels International from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, November 29th. Finally, Wells Fargo & Company upgraded Choice Hotels International from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $52.25.
Choice Hotels International Company Profile
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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