Bank of America Corp DE Sells 50,597 Shares of Choice Hotels International, Inc. (NYSE:CHH)

Bank of America Corp DE cut its holdings in Choice Hotels International, Inc. (NYSE:CHH - Free Report) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 313,537 shares of the company's stock after selling 50,597 shares during the period. Bank of America Corp DE owned about 0.67% of Choice Hotels International worth $44,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHH. CIBC Private Wealth Group LLC increased its holdings in Choice Hotels International by 30.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 370 shares of the company's stock worth $52,000 after buying an additional 86 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in Choice Hotels International by 55.8% during the fourth quarter. Tortoise Investment Management LLC now owns 430 shares of the company's stock worth $61,000 after buying an additional 154 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Choice Hotels International by 836.2% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 440 shares of the company's stock worth $62,000 after buying an additional 393 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Choice Hotels International during the fourth quarter worth $62,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Choice Hotels International in the fourth quarter valued at $65,000. 65.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CHH shares. StockNews.com downgraded shares of Choice Hotels International from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Susquehanna set a $140.00 price objective on shares of Choice Hotels International and gave the company a "neutral" rating in a report on Friday. Morgan Stanley decreased their price objective on shares of Choice Hotels International from $124.00 to $115.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Bank of America upped their price objective on shares of Choice Hotels International from $160.00 to $165.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Choice Hotels International from $138.00 to $137.00 and set an "underweight" rating on the stock in a report on Tuesday, March 4th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $133.38.

Insider Activity

In other news, CFO Scott E. Oaksmith sold 1,780 shares of Choice Hotels International stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $144.40, for a total transaction of $257,032.00. Following the completion of the transaction, the chief financial officer now directly owns 32,014 shares in the company, valued at $4,622,821.60. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ervin R. Shames sold 2,000 shares of Choice Hotels International stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.56, for a total transaction of $259,120.00. Following the transaction, the director now owns 52,212 shares of the company's stock, valued at $6,764,586.72. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,280 shares of company stock worth $1,035,202 over the last three months. 23.78% of the stock is currently owned by insiders.

Choice Hotels International Stock Performance

Shares of Choice Hotels International stock traded down $0.70 during midday trading on Tuesday, hitting $132.09. 31,572 shares of the company traded hands, compared to its average volume of 394,482. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.90 and a beta of 1.00. The firm's fifty day moving average price is $127.11 and its 200-day moving average price is $138.99. Choice Hotels International, Inc. has a 12 month low of $109.22 and a 12 month high of $157.86.

Choice Hotels International (NYSE:CHH - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.04). The firm had revenue of $332.86 million for the quarter, compared to analyst estimates of $348.52 million. Choice Hotels International had a net margin of 18.91% and a negative return on equity of 472.31%. The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. Equities research analysts forecast that Choice Hotels International, Inc. will post 7.07 earnings per share for the current year.

Choice Hotels International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Tuesday, July 1st. Choice Hotels International's dividend payout ratio (DPR) is 17.56%.

Choice Hotels International Profile

Choice Hotels International, Inc, together with its subsidiaries, operates as a hotel franchisor in the United States and internationally. It operates through Hotel Franchising & Management and Corporate & Other segments. The company franchises lodging properties under the brand names of Comfort Inn, Comfort Suites, Quality, Clarion, Clarion Pointe, Sleep Inn, Ascend Hotel Collection, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Studios, WoodSpring Suites, Everhome Suites, Cambria Hotels, Radisson Blu, Radisson RED, Radisson, Park Plaza, Country Inn & Suites by Radisson, Radisson Inn & Suites, Park Inn by Radisson, Radisson Individuals, and Radisson Collection.