Mackay Shields LLC decreased its position in Extended Stay America (NYSE:STAY) by 53.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 287,974 shares of the company’s stock after selling 329,720 shares during the quarter. Mackay Shields LLC’s holdings in Extended Stay America were worth $6,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STAY. Hilltop Holdings Inc. bought a new stake in shares of Extended Stay America in the 1st quarter valued at approximately $201,000. Bayesian Capital Management LP bought a new stake in shares of Extended Stay America in the 1st quarter valued at approximately $293,000. Asset Management One Co. Ltd. grew its stake in shares of Extended Stay America by 119.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 15,339 shares of the company’s stock valued at $303,000 after buying an additional 8,339 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Extended Stay America by 35.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after buying an additional 3,715 shares in the last quarter. Finally, James Investment Research Inc. grew its stake in shares of Extended Stay America by 34.0% in the 2nd quarter. James Investment Research Inc. now owns 14,973 shares of the company’s stock valued at $324,000 after buying an additional 3,800 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on STAY. Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. JPMorgan Chase & Co. boosted their price target on Extended Stay America from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Stifel Nicolaus reissued a “buy” rating and issued a $22.50 price target on shares of Extended Stay America in a research note on Thursday, July 26th. Jefferies Financial Group began coverage on Extended Stay America in a research note on Thursday, May 31st. They issued a “buy” rating and a $26.00 price target for the company. Finally, Morgan Stanley raised Extended Stay America from an “equal” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Thursday, May 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $22.95.

Shares of Extended Stay America stock opened at $20.79 on Friday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.19 and a quick ratio of 0.19. Extended Stay America has a 12-month low of $16.27 and a 12-month high of $22.58.

Extended Stay America (NYSE:STAY) last announced its earnings results on Wednesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $336.50 million during the quarter, compared to analysts’ expectations of $336.68 million. Extended Stay America had a return on equity of 15.18% and a net margin of 5.47%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. equities analysts predict that Extended Stay America will post 1.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, August 8th. This represents a $0.88 dividend on an annualized basis and a yield of 4.23%. Extended Stay America’s payout ratio is currently 88.00%.

In related news, insider Brian T. Nicholson bought 10,000 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was purchased at an average price of $21.19 per share, with a total value of $211,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ames Flynn sold 1,390 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $21.47, for a total value of $29,843.30. Following the sale, the insider now directly owns 55,713 shares of the company’s stock, valued at approximately $1,196,158.11. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Extended Stay America Company Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

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Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

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