Northern Trust Corp Has $33.65 Million Stock Position in 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 lessened its holdings in shares of Choice Hotels International, Inc. (NYSE:CHH - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 253,440 shares of the company's stock after selling 13,816 shares during the quarter. Northern Trust Corp owned approximately 0.54% of Choice Hotels International worth $33,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in shares of Choice Hotels International by 66.2% during the 1st quarter. UMB Bank n.a. now owns 256 shares of the company's stock worth $34,000 after acquiring an additional 102 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Choice Hotels International in the first quarter valued at $35,000. Signaturefd LLC raised its position in shares of Choice Hotels International by 64.7% in the first quarter. Signaturefd LLC now owns 275 shares of the company's stock valued at $37,000 after purchasing an additional 108 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Choice Hotels International by 1,694.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 664 shares of the company's stock valued at $88,000 after purchasing an additional 627 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Choice Hotels International by 133.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,026 shares of the company's stock worth $136,000 after buying an additional 586 shares during the last quarter. 65.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Choice Hotels International from $144.00 to $136.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. JPMorgan Chase & Co. began coverage on Choice Hotels International in a research report on Monday, June 23rd. They issued an "underweight" rating and a $124.00 target price on the stock. UBS Group dropped their price target on Choice Hotels International from $160.00 to $149.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Morgan Stanley restated an "underweight" rating and issued a $121.00 price target on shares of Choice Hotels International in a research note on Tuesday, July 15th. Finally, Susquehanna set a $140.00 price objective on Choice Hotels International and gave the stock a "neutral" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $133.38.

Choice Hotels International Price Performance

Choice Hotels International stock traded up $0.01 during mid-day trading on Thursday, reaching $117.18. 13,071 shares of the company were exchanged, compared to its average volume of 420,908. The firm has a market cap of $5.42 billion, a PE ratio of 18.02, a PEG ratio of 2.26 and a beta of 0.90. The company has a fifty day simple moving average of $126.60 and a 200-day simple moving average of $129.07. Choice Hotels International, Inc. has a 12 month low of $116.15 and a 12 month high of $157.86.

Choice Hotels International (NYSE:CHH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $426.44 million for the quarter, compared to analyst estimates of $430.13 million. During the same period in the prior year, the firm posted $1.84 EPS. Choice Hotels International's quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Choice Hotels International, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Dominic Dragisich sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $128.54, for a total value of $642,700.00. Following the completion of the transaction, the executive vice president directly owned 70,881 shares in the company, valued at approximately $9,111,043.74. The trade was a 6.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 12,500 shares of company stock valued at $1,647,400. 23.78% of the stock is owned by company insiders.

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.