Bank of Nova Scotia Has $229.99 Million Position in Hyatt Hotels Corporation (NYSE:H)

Key Points

• Bank of Nova Scotia increased its stake in Hyatt Hotels by 9.3% in the first quarter, owning 1,877,447 shares worth approximately $230 million.
• Several institutional investors have significantly added to their stakes in Hyatt Hotels, with 73.54% of the company's stock now owned by hedge funds and other institutional investors.
• Hyatt Hotels reported an EPS of $0.46 for the last quarter, surpassing analyst estimates, although total revenue of $1.68 billion fell slightly short of expectations.

Bank of Nova Scotia raised its stake in Hyatt Hotels Corporation (NYSE:H - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,877,447 shares of the company's stock after buying an additional 160,461 shares during the quarter. Bank of Nova Scotia owned 1.95% of Hyatt Hotels worth $229,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Hyatt Hotels in the 4th quarter valued at approximately $26,000. Bank of Jackson Hole Trust acquired a new stake in Hyatt Hotels in the 1st quarter valued at approximately $31,000. UMB Bank n.a. raised its position in Hyatt Hotels by 138.8% in the 1st quarter. UMB Bank n.a. now owns 499 shares of the company's stock valued at $61,000 after buying an additional 290 shares during the last quarter. Aster Capital Management DIFC Ltd raised its position in Hyatt Hotels by 120.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,518 shares of the company's stock valued at $238,000 after buying an additional 829 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in Hyatt Hotels by 20.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 1,849 shares of the company's stock valued at $290,000 after buying an additional 316 shares during the last quarter. Institutional investors and hedge funds own 73.54% of the company's stock.

Insider Activity at Hyatt Hotels

In other Hyatt Hotels news, major shareholder Hotels Corp Hyatt purchased 996,587 shares of the stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $13.50 per share, with a total value of $13,453,924.50. Following the acquisition, the insider owned 117,077,441 shares of the company's stock, valued at approximately $1,580,545,453.50. This represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jnp 2010-Pg Trust sold 266,793 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $132.75, for a total value of $35,416,770.75. The disclosure for this sale can be found here. Insiders have sold 371,111 shares of company stock worth $49,273,516 in the last three months. Insiders own 23.70% of the company's stock.

Hyatt Hotels Price Performance

NYSE H traded down $3.31 during midday trading on Friday, hitting $137.66. The company had a trading volume of 1,012,709 shares, compared to its average volume of 854,039. The company has a market capitalization of $13.14 billion, a PE ratio of 17.88, a P/E/G ratio of 2.32 and a beta of 1.46. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $139.84 and a 200-day moving average price of $134.62. Hyatt Hotels Corporation has a twelve month low of $102.43 and a twelve month high of $168.20.

Hyatt Hotels (NYSE:H - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.16. Hyatt Hotels had a return on equity of 8.98% and a net margin of 11.94%. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, analysts anticipate that Hyatt Hotels Corporation will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on H shares. Melius Research upgraded Hyatt Hotels to a "strong-buy" rating in a research note on Monday, April 21st. The Goldman Sachs Group raised their price target on Hyatt Hotels from $110.00 to $123.00 and gave the company a "sell" rating in a research note on Friday, May 2nd. Robert W. Baird raised their price target on Hyatt Hotels from $148.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Jefferies Financial Group decreased their price target on Hyatt Hotels from $161.00 to $120.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Raymond James Financial upgraded Hyatt Hotels from a "market perform" rating to a "strong-buy" rating and set a $165.00 target price for the company in a research note on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Hyatt Hotels has a consensus rating of "Moderate Buy" and an average price target of $150.74.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units.