Allspring Global Investments Holdings LLC Has $42.61 Million Position in Hyatt Hotels Corporation $H

Key Points

• Allspring Global Investments increased its Hyatt Hotels stake by 19.3% in Q1, ending with 296,133 shares valued at about $42.6 million.
• Wall Street sentiment remains constructive: several analysts raised price targets, and Hyatt currently has a “Moderate Buy” consensus with a target price of $196.14.
• Hyatt reported better-than-expected Q1 earnings, posting EPS of $0.63 versus the $0.57 estimate, while shares recently traded around $190.62 near their 52-week high.

Allspring Global Investments Holdings LLC grew its holdings in Hyatt Hotels Corporation (NYSE:H - Free Report) by 19.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 296,133 shares of the company's stock after buying an additional 48,002 shares during the period. Allspring Global Investments Holdings LLC owned 0.31% of Hyatt Hotels worth $42,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Johnson Financial Group Inc. boosted its holdings in shares of Hyatt Hotels by 450.0% during the third quarter. Johnson Financial Group Inc. now owns 176 shares of the company's stock worth $25,000 after acquiring an additional 144 shares during the period. Los Angeles Capital Management LLC bought a new stake in Hyatt Hotels in the 4th quarter valued at $26,000. DV Equities LLC acquired a new position in Hyatt Hotels in the 4th quarter valued at $32,000. Ares Financial Consulting LLC bought a new position in Hyatt Hotels during the 4th quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Hyatt Hotels during the 3rd quarter worth $34,000. 73.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on H shares. Barclays raised their target price on shares of Hyatt Hotels from $197.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Morgan Stanley increased their price target on Hyatt Hotels from $208.00 to $218.00 and gave the stock an "overweight" rating in a research report on Friday. Weiss Ratings restated a "hold (c-)" rating on shares of Hyatt Hotels in a research note on Wednesday, June 24th. HSBC raised Hyatt Hotels from a "hold" rating to a "buy" rating and set a $212.00 price objective for the company in a report on Thursday, June 4th. Finally, Susquehanna cut their target price on Hyatt Hotels from $185.00 to $180.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Hyatt Hotels presently has a consensus rating of "Moderate Buy" and a consensus target price of $196.14.

Hyatt Hotels Trading Up 1.0%

Shares of NYSE H opened at $190.62 on Friday. The firm has a 50 day moving average price of $187.27 and a two-hundred day moving average price of $169.21. The stock has a market cap of $17.95 billion, a P/E ratio of -544.63 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. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.60 and a current ratio of 0.60.

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

Insider Activity

In related news, insider Peter Sears sold 10,217 shares of the 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 transaction, the insider directly owned 6,374 shares of the company's stock, valued at $1,183,396.84. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Udell sold 8,682 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $172.00, for a total value of $1,493,304.00. Following the completion of the sale, the insider owned 13,338 shares of the company's stock, valued at approximately $2,294,136. This represents a 39.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,224 shares of company stock worth $4,173,605 in the last three months. Corporate insiders own 23.60% of the company's stock.

About Hyatt Hotels

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.

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