Castleark Management LLC Buys New Shares in Hyatt Hotels Corporation $H

Key Points

• Castleark Management LLC disclosed a new position in Hyatt Hotels, buying 45,190 shares valued at about $7.25 million in the fourth quarter.
• Several other institutional investors also increased their holdings, and hedge funds and institutions now own 73.54% of Hyatt’s stock.
• Hyatt reported quarterly results that beat expectations, with EPS of $0.63 versus the $0.57 estimate and revenue of $1.75 billion, while analysts currently rate the stock Moderate Buy with a consensus target of $192.40.

Castleark Management LLC bought a new stake in shares of Hyatt Hotels Corporation (NYSE:H - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 45,190 shares of the company's stock, valued at approximately $7,245,000.

A number of other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Hyatt Hotels by 0.8% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 9,437 shares of the company's stock valued at $1,339,000 after acquiring an additional 72 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Hyatt Hotels by 18.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 459 shares of the company's stock valued at $74,000 after acquiring an additional 72 shares during the period. Allworth Financial LP lifted its position in shares of Hyatt Hotels by 17.8% during the 3rd quarter. Allworth Financial LP now owns 483 shares of the company's stock valued at $69,000 after acquiring an additional 73 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hyatt Hotels by 3.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,318 shares of the company's stock valued at $372,000 after acquiring an additional 79 shares during the period. Finally, Gilbert & Cook Inc. lifted its position in shares of Hyatt Hotels by 3.5% during the 4th quarter. Gilbert & Cook Inc. now owns 2,439 shares of the company's stock valued at $391,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 73.54% of the company's stock.

Insider Buying and Selling

In other news, insider Peter Sears sold 10,217 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $185.66, for a total value of $1,896,888.22. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Udell sold 8,682 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $172.00, for a total transaction of $1,493,304.00. Following the transaction, the insider directly owned 13,338 shares of the company's stock, valued at $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 sold a total of 237,458 shares of company stock valued at $40,093,807 over the last quarter. Corporate insiders own 23.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on H. Truist Financial boosted their target price on shares of Hyatt Hotels from $181.00 to $187.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Stifel Nicolaus set a $182.00 target price on shares of Hyatt Hotels in a research report on Friday, May 29th. Sanford C. Bernstein upped their target price on Hyatt Hotels from $186.00 to $202.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Hyatt Hotels in a research report on Friday, March 27th. Finally, Susquehanna lowered their target price on Hyatt Hotels from $185.00 to $180.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Hyatt Hotels currently has an average rating of "Moderate Buy" and a consensus price target of $192.40.

Hyatt Hotels Trading Up 0.8%

NYSE:H opened at $199.45 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of -569.86 and a beta of 1.33. Hyatt Hotels Corporation has a 52 week low of $127.59 and a 52 week high of $200.47. The firm has a 50-day moving average price of $170.74 and a two-hundred day moving average price of $163.62.

Hyatt Hotels (NYSE:H - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $0.46 earnings per share. On average, equities analysts expect that Hyatt Hotels Corporation will post 3.58 earnings per share for the current fiscal year.

Hyatt Hotels Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.3%. Hyatt Hotels's dividend payout ratio is currently -171.43%.

Hyatt Hotels 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.

Want to see what other hedge funds are holding H? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hyatt Hotels Corporation (NYSE:H - Free Report).

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.