Millennium Management LLC Makes New Investment in Choice Hotels International, Inc. $CHH

Key Points

• Millennium Management LLC acquired 375,049 shares of Choice Hotels International, valued at approximately $49.8 million, constituting about 0.81% of the company.
• Choice Hotels International experienced a 2.0% decline in revenue year-over-year, with earnings per share of $1.92, slightly above the analysts' estimates.
• Various analysts have set mixed ratings on Choice Hotels International, with a consensus target price around $133.38, reflecting a blend of "Buy," "Hold," and "Sell" ratings.

Millennium Management LLC acquired a new stake in shares of Choice Hotels International, Inc. (NYSE:CHH - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 375,049 shares of the company's stock, valued at approximately $49,799,000. Millennium Management LLC owned approximately 0.81% of Choice Hotels International as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Choice Hotels International by 66.2% during the first quarter. UMB Bank n.a. now owns 256 shares of the company's stock worth $34,000 after buying an additional 102 shares during the period. HM Payson & Co. bought a new position in shares of Choice Hotels International in the 1st quarter worth $35,000. Signaturefd LLC raised its position in shares of Choice Hotels International by 64.7% in the 1st quarter. Signaturefd LLC now owns 275 shares of the company's stock worth $37,000 after acquiring an additional 108 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Choice Hotels International by 1,694.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 664 shares of the company's stock worth $88,000 after purchasing an additional 627 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Choice Hotels International by 133.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,026 shares of the company's stock valued at $136,000 after purchasing an additional 586 shares in the last quarter. Institutional investors own 65.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial reduced their target price on shares of Choice Hotels International from $144.00 to $128.00 and set a "hold" rating for the company in a report on Friday, May 30th. Barclays reduced their price objective on shares of Choice Hotels International from $121.00 to $117.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. started coverage on shares of Choice Hotels International in a research note on Monday, June 23rd. They issued an "underweight" rating and a $124.00 target price for the company. Robert W. Baird cut their price target on shares of Choice Hotels International from $144.00 to $136.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Finally, Morgan Stanley reiterated an "underweight" rating and set a $121.00 price objective on shares of Choice Hotels International in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Choice Hotels International presently has an average rating of "Reduce" and an average target price of $133.38.

Choice Hotels International Trading Down 2.0%

Shares of NYSE:CHH traded down $2.27 on Friday, hitting $112.85. 359,968 shares of the company were exchanged, compared to its average volume of 389,045. The firm has a market capitalization of $5.22 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90. Choice Hotels International, Inc. has a 1-year low of $111.42 and a 1-year high of $157.86. The stock's 50 day moving average price is $124.56 and its 200 day moving average price is $127.41.

Choice Hotels International (NYSE:CHH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.02. The company had revenue of $426.44 million during the quarter, compared to analyst estimates of $430.13 million. Choice Hotels International had a negative return on equity of 575.73% and a net margin of 19.52%.The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. On average, equities analysts predict that Choice Hotels International, Inc. will post 7.07 EPS for the current fiscal year.

Choice Hotels International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 1.0%. Choice Hotels International's payout ratio is 17.69%.

Insider Buying and Selling

In related news, EVP Dominic Dragisich sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $136.45, for a total value of $341,125.00. Following the transaction, the executive vice president owned 68,381 shares in the company, valued at approximately $9,330,587.45. This represents a 3.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,500 shares of company stock valued at $1,647,400 in the last 90 days. 23.78% of the stock is owned by corporate insiders.

Choice Hotels International Company 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.