Bank of Nova Scotia Decreases Position in Wyndham Hotels & Resorts (NYSE:WH)

Key Points

• The Bank of Nova Scotia significantly reduced its position in Wyndham Hotels & Resorts, cutting its holdings by 95.9% to just 2,910 shares in the first quarter, valued at $263,000.
• CEO Geoffrey A. Ballotti sold 26,724 shares on May 16th for over $2.29 million, reducing his ownership by 5.41%.
• Multiple brokerages recently updated their ratings on Wyndham Hotels & Resorts, with a consensus target price of $106.98 and eleven analysts issuing a "buy" rating.

Bank of Nova Scotia cut its holdings in shares of Wyndham Hotels & Resorts (NYSE:WH - Free Report) by 95.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,910 shares of the company's stock after selling 68,151 shares during the period. Bank of Nova Scotia's holdings in Wyndham Hotels & Resorts were worth $263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janney Capital Management LLC acquired a new stake in Wyndham Hotels & Resorts during the first quarter worth approximately $428,000. Man Group plc bought a new stake in shares of Wyndham Hotels & Resorts in the 4th quarter valued at $339,000. Generate Investment Management Ltd bought a new position in Wyndham Hotels & Resorts during the first quarter worth $6,258,000. USA Financial Formulas bought a new position in Wyndham Hotels & Resorts in the first quarter worth approximately $314,000. Finally, NBC Securities Inc. grew its position in Wyndham Hotels & Resorts by 133,933.3% in the 1st quarter. NBC Securities Inc. now owns 4,021 shares of the company's stock valued at $363,000 after purchasing an additional 4,018 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Wyndham Hotels & Resorts Stock Performance

Shares of WH stock traded up $0.13 during trading hours on Friday, reaching $83.92. The company had a trading volume of 630,326 shares, compared to its average volume of 1,285,845. The firm has a market cap of $6.41 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average price of $84.35 and a 200-day moving average price of $90.05. Wyndham Hotels & Resorts has a one year low of $72.63 and a one year high of $113.07.

Wyndham Hotels & Resorts (NYSE:WH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. Wyndham Hotels & Resorts had a return on equity of 60.79% and a net margin of 23.10%. The company had revenue of $397.00 million for the quarter, compared to analysts' expectations of $384.69 million. During the same period last year, the firm earned $1.13 EPS. Wyndham Hotels & Resorts's revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Wyndham Hotels & Resorts will post 4.79 earnings per share for the current fiscal year.

Wyndham Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.0%. Wyndham Hotels & Resorts's payout ratio is currently 38.32%.

Insider Activity at Wyndham Hotels & Resorts

In other news, CEO Geoffrey A. Ballotti sold 26,724 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $85.77, for a total value of $2,292,117.48. Following the transaction, the chief executive officer directly owned 467,394 shares in the company, valued at approximately $40,088,383.38. This represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WH. Barclays boosted their target price on shares of Wyndham Hotels & Resorts from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. The Goldman Sachs Group cut their target price on Wyndham Hotels & Resorts from $124.00 to $108.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley restated an "overweight" rating and set a $105.00 price objective on shares of Wyndham Hotels & Resorts in a research note on Tuesday, July 15th. Stifel Nicolaus reduced their target price on shares of Wyndham Hotels & Resorts from $121.00 to $102.75 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Robert W. Baird raised their price target on shares of Wyndham Hotels & Resorts from $98.00 to $99.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Wyndham Hotels & Resorts has a consensus rating of "Moderate Buy" and a consensus target price of $106.98.

Wyndham Hotels & Resorts Company Profile

Wyndham Hotels & Resorts, Inc engages in the franchise and operation of hotels under the Wyndham brand. It operates through the Hotel Franchising and Hotel Management segments. The Hotel Franchising segment focuses on licensing the company's lodging brands and providing related services to third-party hotel owners and others.