Bank of New York Mellon Corp reduced its stake in La Quinta Holdings Inc (NYSE:LQ) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 386,133 shares of the company’s stock after selling 12,678 shares during the period. Bank of New York Mellon Corp owned 0.33% of La Quinta worth $6,757,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LQ. Fox Run Management L.L.C. bought a new stake in shares of La Quinta in the third quarter valued at about $572,000. Schwab Charles Investment Management Inc. boosted its position in shares of La Quinta by 5.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 507,218 shares of the company’s stock valued at $7,492,000 after acquiring an additional 27,651 shares during the period. California Public Employees Retirement System bought a new stake in shares of La Quinta in the second quarter valued at about $275,000. Parametric Portfolio Associates LLC boosted its position in shares of La Quinta by 10.8% in the second quarter. Parametric Portfolio Associates LLC now owns 135,118 shares of the company’s stock valued at $1,996,000 after acquiring an additional 13,120 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in shares of La Quinta in the second quarter valued at about $1,194,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Shares of La Quinta Holdings Inc (NYSE:LQ) opened at $18.46 on Friday. La Quinta Holdings Inc has a 52-week low of $11.76 and a 52-week high of $18.57. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $2,167.04, a PE ratio of 51.25, a P/E/G ratio of 14.91 and a beta of 1.85.

La Quinta (NYSE:LQ) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.04). La Quinta had a return on equity of 6.23% and a net margin of 3.11%. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $272.52 million. During the same period in the prior year, the company earned $0.19 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. analysts expect that La Quinta Holdings Inc will post 0.33 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of La Quinta from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. TheStreet cut shares of La Quinta from a “b” rating to a “c+” rating in a research report on Thursday, November 2nd. UBS Group raised shares of La Quinta from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Co raised shares of La Quinta from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.81.

TRADEMARK VIOLATION NOTICE: “Bank of New York Mellon Corp Decreases Holdings in La Quinta Holdings Inc (LQ)” was first posted by Watch List News and is owned by of Watch List News. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at https://www.watchlistnews.com/bank-of-new-york-mellon-corp-decreases-holdings-in-la-quinta-holdings-inc-lq/1788451.html.

About La Quinta

La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.

Institutional Ownership by Quarter for La Quinta (NYSE:LQ)

Receive News & Ratings for La Quinta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Quinta and related companies with MarketBeat.com's FREE daily email newsletter.