16,337 Shares in Hyatt Hotels Corporation $H Acquired by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in Hyatt Hotels during the first quarter, buying 16,337 shares valued at about $2.35 million.
• Institutional ownership remains heavy, with funds and hedge funds holding 73.54% of Hyatt’s shares. Several large investors, including Wellington Management and Veritas Asset Management, also increased their stakes recently.
• Analysts remain broadly constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $198.29. Hyatt also beat quarterly earnings estimates, reporting $0.63 EPS versus the expected $0.57.

SEB Asset Management AB purchased a new position in Hyatt Hotels Corporation (NYSE:H - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,337 shares of the company's stock, valued at approximately $2,349,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Hyatt Hotels by 48.0% during the 4th quarter. Wellington Management Group LLP now owns 4,676,116 shares of the company's stock worth $749,675,000 after purchasing an additional 1,516,554 shares during the last quarter. Veritas Asset Management LLP raised its stake in Hyatt Hotels by 827.9% in the fourth quarter. Veritas Asset Management LLP now owns 1,900,417 shares of the company's stock valued at $304,675,000 after buying an additional 1,695,616 shares in the last quarter. Bank of Nova Scotia raised its stake in Hyatt Hotels by 2.8% in the fourth quarter. Bank of Nova Scotia now owns 1,605,243 shares of the company's stock valued at $257,352,000 after buying an additional 43,733 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hyatt Hotels by 15.8% during the 3rd quarter. Bank of America Corp DE now owns 1,421,926 shares of the company's stock worth $201,814,000 after buying an additional 193,530 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Hyatt Hotels by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 751,607 shares of the company's stock worth $120,153,000 after acquiring an additional 6,849 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company's stock.

Analyst Ratings Changes

H has been the topic of several research analyst reports. Stifel Nicolaus set a $182.00 target price on Hyatt Hotels in a research report on Friday, May 29th. Sanford C. Bernstein upped their price target on Hyatt Hotels from $186.00 to $202.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Mizuho raised their price objective on shares of Hyatt Hotels from $219.00 to $221.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Robert W. Baird boosted their price objective on shares of Hyatt Hotels from $183.00 to $185.00 and gave the stock a "neutral" rating in a research report on Monday, June 1st. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Hyatt Hotels in a report on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $198.29.

Insider Buying and Selling

In related news, insider David Udell sold 2,087 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $188.00, for a total transaction of $392,356.00. Following the completion of the sale, the insider directly owned 16,638 shares of the company's stock, valued at $3,127,944. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Sears sold 10,217 shares of Hyatt Hotels stock in a transaction on Friday, May 29th. The shares were sold at an average price of $185.66, for a total transaction of $1,896,888.22. Following the completion of the transaction, the insider owned 6,374 shares in the company, valued at approximately $1,183,396.84. This trade represents a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,224 shares of company stock worth $4,173,605 over the last three months. 23.60% of the stock is owned by company insiders.

Hyatt Hotels Stock Performance

Shares of H stock opened at $183.52 on Friday. The stock's 50-day moving average price is $188.89 and its 200 day moving average price is $169.94. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $17.28 billion, a PE ratio of -524.34 and a beta of 1.32. Hyatt Hotels Corporation has a 52-week low of $133.51 and a 52-week high of $206.86.

Hyatt Hotels (NYSE:H - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.06. Hyatt Hotels had a positive return on equity of 6.01% and a negative net margin of 0.48%.The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the firm earned $0.46 EPS. As a group, equities research analysts forecast that Hyatt Hotels Corporation will post 3.58 EPS for the current year.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation NYSE: H is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt's business model combines property ownership, management contracts and third-party franchising.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.