Castleark Management LLC Reduces Position in Hyatt Hotels Corporation $H

Key Points

• Castleark Management cut its Hyatt Hotels position by 60.7% in the first quarter, selling 27,410 shares and retaining 17,780 shares valued at approximately $2.56 million. Institutional investors collectively own 73.54% of Hyatt’s stock.
• Hyatt exceeded first-quarter expectations, reporting $0.63 in EPS versus the $0.57 consensus estimate and $1.75 billion in revenue. Analysts maintain a “Moderate Buy” consensus, with an average price target of $198.29.
• Insiders sold 23,224 shares worth approximately $4.17 million over the past 90 days, including substantial sales by executives David Udell and Peter Sears.

Castleark Management LLC decreased its holdings in Hyatt Hotels Corporation (NYSE:H - Free Report) by 60.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,780 shares of the company's stock after selling 27,410 shares during the period. Castleark Management LLC's holdings in Hyatt Hotels were worth $2,557,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of H. Johnson Financial Group Inc. boosted its holdings in shares of Hyatt Hotels by 450.0% in 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 position in Hyatt Hotels in the 4th quarter worth about $26,000. DV Equities LLC purchased a new position in Hyatt Hotels during the 4th quarter valued at about $32,000. Ares Financial Consulting LLC purchased a new stake in shares of Hyatt Hotels in the fourth quarter worth about $34,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Hyatt Hotels in the third quarter valued at approximately $34,000. 73.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider David Udell sold 2,087 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $188.00, for a total transaction of $392,356.00. Following the completion of the sale, the insider directly owned 16,638 shares in the company, valued at $3,127,944. This represents a 11.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Sears sold 10,217 shares of the firm'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 transaction, the insider owned 6,374 shares in the company, valued at approximately $1,183,396.84. The trade was a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,224 shares of company stock worth $4,173,605. Insiders own 23.60% of the company's stock.

Hyatt Hotels Price Performance

Shares of NYSE:H opened at $190.92 on Tuesday. The stock has a market cap of $17.98 billion, a PE ratio of -545.48 and a beta of 1.32. The company's fifty day moving average is $189.67 and its 200 day moving average is $170.27. Hyatt Hotels Corporation has a 52 week low of $133.51 and a 52 week high of $206.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.03.

Hyatt Hotels (NYSE:H - Get Free Report) last posted its quarterly 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. Hyatt Hotels had a negative net margin of 0.48% and a positive return on equity of 6.01%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the business posted $0.46 earnings per share. Research analysts anticipate that Hyatt Hotels Corporation will post 3.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on H. Susquehanna decreased their price target on shares of Hyatt Hotels from $185.00 to $180.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Morgan Stanley upped their target price on Hyatt Hotels from $208.00 to $218.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Robert W. Baird boosted their price objective on Hyatt Hotels from $183.00 to $185.00 and gave the stock a "neutral" rating in a report on Monday, June 1st. Barclays raised their target price on shares of Hyatt Hotels from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Finally, Truist Financial boosted their price target on shares of Hyatt Hotels from $181.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $198.29.

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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