Marriott International (MAR) Sees Significant Decrease in Short Interest
Marriott International (NASDAQ:MAR) saw a large decline in short interest in August. As of August 15th, there was short interest totalling 10,943,573 shares, a decline of 11.0% from the July 31st total of 12,290,252 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average trading volume of 2,846,396 shares, the days-to-cover ratio is currently 3.8 days.
In related news, EVP Edward A. Ryan sold 3,300 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $104.65, for a total value of $345,345.00. Following the completion of the sale, the executive vice president now owns 84,859 shares of the company’s stock, valued at approximately $8,880,494.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary K. Bush sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $100.89, for a total value of $121,068.00. Following the completion of the sale, the director now directly owns 1,101 shares of the company’s stock, valued at approximately $111,079.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,300 shares of company stock worth $5,653,781. Company insiders own 11.32% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advisory Services Network LLC increased 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 in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Marriott International during the first quarter valued at about $115,000. Baker Ellis Asset Management LLC bought a new stake in Marriott International during the second quarter valued at about $133,000. TrimTabs Asset Management LLC increased its stake in Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock valued at $147,000 after buying an additional 736 shares in the last quarter. Finally, First Bank & Trust increased its stake in Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock valued at $158,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 65.94% of the company’s stock.
Several equities research analysts recently commented on MAR shares. BidaskClub cut Marriott International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $113.00 price target (up previously from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Barclays PLC reissued a “hold” rating and issued a $105.00 price target on shares of Marriott International in a research note on Friday, May 12th. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Berenberg Bank reissued a “buy” rating and issued a $125.00 price target on shares of Marriott International in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $100.08.
Marriott International (MAR) opened at 100.23 on Wednesday. Marriott International has a one year low of $65.91 and a one year high of $110.51. The stock’s 50 day moving average price is $101.72 and its 200-day moving average price is $97.43. The firm has a market capitalization of $37.33 billion, a price-to-earnings ratio of 32.89 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, equities research analysts expect that Marriott International will post $4.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 1.32%. Marriott International’s dividend payout ratio is currently 45.52%.
About Marriott International
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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