Short Interest in Extended Stay America (STAY) Drops By 36.5%
Extended Stay America (NYSE:STAY) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,182,961 shares, a decrease of 36.5% from the October 15th total of 1,862,805 shares. Based on an average daily trading volume, of 1,906,725 shares, the days-to-cover ratio is presently 0.6 days.
Shares of Extended Stay America stock opened at $18.06 on Wednesday. Extended Stay America has a 1 year low of $15.73 and a 1 year high of $22.58.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.17 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year.
Several brokerages have issued reports on STAY. Bank of America raised their price target on Extended Stay America from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $22.50 price target on shares of Extended Stay America in a report on Thursday, July 26th. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Finally, JPMorgan Chase & Co. cut their price target on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.56.
Institutional investors have recently made changes to their positions in the business. Commonwealth Bank of Australia bought a new position in Extended Stay America during the 3rd quarter worth $178,000. Gideon Capital Advisors Inc. bought a new position in shares of Extended Stay America in the third quarter worth $224,000. Iberiabank Corp bought a new position in shares of Extended Stay America in the third quarter worth $251,000. Hsbc Holdings PLC bought a new position in shares of Extended Stay America in the third quarter worth $287,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Extended Stay America by 35.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after purchasing an additional 3,715 shares during the period. 96.67% of the stock is owned by institutional investors and hedge funds.
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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