Rhumbline Advisers lowered its holdings in shares of Choice Hotels International Inc (NYSE:CHH) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,901 shares of the company’s stock after selling 3,298 shares during the period. Rhumbline Advisers owned about 0.10% of Choice Hotels International worth $3,764,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Choice Hotels International by 7.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,804,252 shares of the company’s stock valued at $180,173,000 after purchasing an additional 197,890 shares during the period. Victory Capital Management Inc. raised its stake in Choice Hotels International by 16.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,148,444 shares of the company’s stock valued at $73,386,000 after acquiring an additional 162,255 shares during the period. Atlanta Capital Management Co. L L C grew its holdings in Choice Hotels International by 4.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 888,607 shares of the company’s stock valued at $57,093,000 after buying an additional 35,925 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Choice Hotels International by 3.9% in the 2nd quarter. Macquarie Group Ltd. now owns 819,457 shares of the company’s stock valued at $52,650,000 after buying an additional 30,594 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Choice Hotels International by 31.6% during the 2nd quarter. Renaissance Technologies LLC now owns 686,800 shares of the company’s stock worth $44,127,000 after purchasing an additional 165,000 shares in the last quarter. 50.76% of the stock is owned by institutional investors.
In other news, major shareholder Bruce Bainum sold 250,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $74.05, for a total value of $18,512,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Pacious sold 11,149 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $75.78, for a total transaction of $844,871.22. Following the completion of the sale, the chief executive officer now directly owns 124,073 shares of the company’s stock, valued at approximately $9,402,251.94. The disclosure for this sale can be found here. Corporate insiders own 22.01% of the company’s stock.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings results on Monday, November 6th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. The business had revenue of $295.09 million for the quarter, compared to analyst estimates of $288.50 million. Choice Hotels International had a net margin of 15.66% and a negative return on equity of 60.41%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. analysts predict that Choice Hotels International Inc will post 2.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be given a $0.215 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.11%. Choice Hotels International’s dividend payout ratio (DPR) is currently 31.85%.
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $72.00 target price on the stock. in a report on Wednesday, December 13th. SunTrust Banks reiterated a “hold” rating and set a $71.00 price target on shares of Choice Hotels International in a report on Friday, November 10th. Barclays boosted their target price on Choice Hotels International from $60.00 to $67.00 and gave the company an “underweight” rating in a research note on Tuesday, November 7th. TheStreet upgraded Choice Hotels International from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research upgraded Choice Hotels International from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Choice Hotels International has an average rating of “Hold” and an average target price of $67.38.
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Choice Hotels International Profile
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
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