Korea Investment CORP Purchases Shares of 49,589 Wyndham Destinations (WYND)
Korea Investment CORP purchased a new stake in Wyndham Destinations (NASDAQ:WYND) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 49,589 shares of the company’s stock, valued at approximately $2,195,000.
Other hedge funds also recently bought and sold shares of the company. Fiera Capital Corp acquired a new position in Wyndham Destinations in the second quarter valued at about $16,310,000. Convergence Investment Partners LLC acquired a new position in Wyndham Destinations in the second quarter valued at about $710,000. Nisa Investment Advisors LLC acquired a new position in Wyndham Destinations in the second quarter valued at about $1,119,000. Factorial Partners LLC acquired a new position in Wyndham Destinations in the second quarter valued at about $2,249,000. Finally, Mount Vernon Associates Inc. MD acquired a new position in Wyndham Destinations in the second quarter valued at about $430,000.
A number of research firms recently commented on WYND. Goldman Sachs Group began coverage on Wyndham Destinations in a research note on Monday, June 4th. They issued a “buy” rating for the company. Zacks Investment Research downgraded Wyndham Destinations from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 7th. JPMorgan Chase & Co. initiated coverage on Wyndham Destinations in a research note on Wednesday, June 6th. They issued a “neutral” rating and a $52.00 price target for the company. TheStreet downgraded Wyndham Destinations from a “b” rating to a “c” rating in a research note on Monday, June 4th. Finally, SunTrust Banks initiated coverage on Wyndham Destinations in a research note on Thursday, June 14th. They set a “buy” rating and a $69.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $58.71.
Wyndham Destinations (NASDAQ:WYND) last issued its earnings results on Wednesday, August 8th. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, September 13th.
In other Wyndham Destinations news, Director George Herrera sold 747 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $44.61, for a total transaction of $33,323.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Dean Brown bought 6,000 shares of the stock in a transaction on Tuesday, August 21st. The shares were acquired at an average cost of $45.20 per share, with a total value of $271,200.00. The disclosure for this purchase can be found here.
About Wyndham Destinations
Wyndham Destinations, Inc engages in the provision of hospitality services and products. It operates through three business segments: Hotel Group, Destination Network, Vacation Ownership, and Corporate and Other. The Hotel Group segment franchises hotels in the upscale, upper midscale, midscale, economy, and extended stay segments; and provides hotel management services for full-service and select limited-service hotels.
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