Highbridge Capital Management LLC Buys 17,214 Shares of La Quinta Holdings Inc. (LQ)
Highbridge Capital Management LLC boosted its stake in shares of La Quinta Holdings Inc. (NYSE:LQ) by 136.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,862 shares of the company’s stock after acquiring an additional 17,214 shares during the period. Highbridge Capital Management LLC’s holdings in La Quinta were worth $522,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC bought a new position in La Quinta during the 2nd quarter worth $159,000. Institute for Wealth Management LLC. bought a new position in La Quinta during the 2nd quarter worth $175,000. Wolverine Trading LLC bought a new position in La Quinta during the 2nd quarter worth $208,000. SG Americas Securities LLC bought a new position in La Quinta during the 3rd quarter worth $232,000. Finally, California Public Employees Retirement System bought a new position in La Quinta during the 2nd quarter worth $275,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.
Several equities analysts have recently issued reports on the company. TheStreet lowered La Quinta from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Zacks Investment Research lowered La Quinta from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. UBS upgraded La Quinta from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Wells Fargo & Company upgraded La Quinta from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, October 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $17.81.
La Quinta (NYSE:LQ) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $272.52 million. La Quinta had a return on equity of 6.23% and a net margin of 3.11%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. analysts forecast that La Quinta Holdings Inc. will post 0.33 earnings per share for the current fiscal year.
La Quinta Profile
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.
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