Northern Trust Corp Sells 13,816 Shares of Choice Hotels International, Inc. $CHH

Key Points

• Northern Trust Corp reduced its stake in Choice Hotels International by 5.2%, selling 13,816 shares and retaining ownership of 253,440 shares valued at approximately $33.65 million.
• Multiple institutional investors increased their stakes, with Caitong International Asset Management Co. Ltd. seeing the largest increase of 1,694.6%, acquiring 664 shares valued at $88,000.
• Choice Hotels reported a quarterly earnings per share (EPS) of $1.92, exceeding estimates, but its quarterly revenue of $426.44 million was down 2.0% year-over-year compared to analyst expectations.

Northern Trust Corp lowered its holdings in Choice Hotels International, Inc. (NYSE:CHH - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 253,440 shares of the company's stock after selling 13,816 shares during the quarter. Northern Trust Corp owned about 0.54% of Choice Hotels International worth $33,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CHH. Alliance Wealth Advisors LLC UT boosted its position in shares of Choice Hotels International by 2.2% during the first quarter. Alliance Wealth Advisors LLC UT now owns 4,367 shares of the company's stock valued at $580,000 after buying an additional 92 shares during the last quarter. Ethic Inc. bought a new position in Choice Hotels International during the 1st quarter valued at $659,000. Liontrust Investment Partners LLP purchased a new position in Choice Hotels International during the 1st quarter worth $662,000. Vestmark Advisory Solutions Inc. grew its stake in shares of Choice Hotels International by 104.9% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 61,570 shares of the company's stock worth $8,175,000 after acquiring an additional 31,527 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Choice Hotels International in the 1st quarter worth $398,000. Institutional investors and hedge funds own 65.57% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHH. JPMorgan Chase & Co. assumed coverage on shares of Choice Hotels International in a research report on Monday, June 23rd. They issued an "underweight" rating and a $124.00 price objective for the company. Truist Financial reduced their target price on Choice Hotels International from $144.00 to $128.00 and set a "hold" rating for the company in a report on Friday, May 30th. Barclays decreased their price target on Choice Hotels International from $121.00 to $117.00 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Morgan Stanley reissued an "underweight" rating and issued a $121.00 price objective on shares of Choice Hotels International in a research report on Tuesday, July 15th. Finally, Robert W. Baird reduced their price target on shares of Choice Hotels International from $144.00 to $136.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Choice Hotels International presently has a consensus rating of "Reduce" and an average price target of $133.38.

Insider Activity at Choice Hotels International

In related news, EVP Dominic Dragisich sold 5,000 shares of Choice Hotels International stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $128.54, for a total transaction of $642,700.00. Following the completion of the transaction, the executive vice president directly owned 70,881 shares of the company's stock, valued at $9,111,043.74. This trade represents a 6.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 12,500 shares of company stock valued at $1,647,400. Company insiders own 23.78% of the company's stock.

Choice Hotels International Stock Down 0.0%

NYSE:CHH traded down $0.03 during trading hours on Thursday, hitting $117.14. 278,531 shares of the company's stock traded hands, compared to its average volume of 378,718. The business's fifty day simple moving average is $126.40 and its two-hundred day simple moving average is $128.87. The firm has a market cap of $5.42 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.21 and a beta of 0.90. Choice Hotels International, Inc. has a 52 week low of $116.15 and a 52 week high of $157.86.

Choice Hotels International (NYSE:CHH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.02. Choice Hotels International had a negative return on equity of 575.73% and a net margin of 19.52%.The business had revenue of $426.44 million for the quarter, compared to the consensus estimate of $430.13 million. During the same quarter last year, the business posted $1.84 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts expect that Choice Hotels International, Inc. will post 7.07 EPS for the current year.

About Choice Hotels International

Choice Hotels International, Inc, together with its subsidiaries, operates as a hotel franchisor in the United States and internationally. It operates through Hotel Franchising & Management and Corporate & Other segments. The company franchises lodging properties under the brand names of Comfort Inn, Comfort Suites, Quality, Clarion, Clarion Pointe, Sleep Inn, Ascend Hotel Collection, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Studios, WoodSpring Suites, Everhome Suites, Cambria Hotels, Radisson Blu, Radisson RED, Radisson, Park Plaza, Country Inn & Suites by Radisson, Radisson Inn & Suites, Park Inn by Radisson, Radisson Individuals, and Radisson Collection.