Chicago Equity Partners LLC Has $2.03 Million Position in Marriott International Inc (MAR)
Chicago Equity Partners LLC increased its stake in shares of Marriott International Inc (NASDAQ:MAR) by 525.5% in the fourth quarter, Holdings Channel reports. The firm owned 14,950 shares of the company’s stock after buying an additional 12,560 shares during the period. Chicago Equity Partners LLC’s holdings in Marriott International were worth $2,029,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of MAR. Advisory Services Network LLC raised its stake in Marriott International by 1,490.1% in the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after buying an additional 1,058 shares during the last quarter. First Quadrant L P CA purchased a new stake in Marriott International in the third quarter valued at about $136,000. Grove Bank & Trust raised its stake in Marriott International by 214.8% in the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after buying an additional 840 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Marriott International by 175.6% in the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after buying an additional 843 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Marriott International by 66.2% in the third quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock valued at $163,000 after buying an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.
Shares of Marriott International Inc (MAR) opened at $140.03 on Wednesday. The company has a market capitalization of $51,050.00, a PE ratio of 38.05, a P/E/G ratio of 2.29 and a beta of 1.35. Marriott International Inc has a 1-year low of $85.37 and a 1-year high of $149.21. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 9th that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, insider Deborah Marriott Harrison sold 130,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the sale, the insider now directly owns 114,155 shares of the company’s stock, valued at $13,603,851.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig S. Smith sold 5,840 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $136.26, for a total value of $795,758.40. Following the sale, the insider now directly owns 26,317 shares in the company, valued at $3,585,954.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,825 shares of company stock worth $27,378,820. 11.32% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on MAR shares. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research note on Friday, January 19th. Sanford C. Bernstein cut Marriott International from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 16th. Stifel Nicolaus reissued a “hold” rating and issued a $132.00 price objective on shares of Marriott International in a report on Tuesday, January 9th. Finally, Barclays increased their price objective on Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $117.21.
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Marriott International Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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