Raymond James Financial Inc. Lowers Position in Choice Hotels International, Inc. $CHH

Key Points

• Raymond James Financial Inc. reduced its stake in Choice Hotels International by 1.8% in Q1, now holding 333,344 shares valued at approximately $44.26 million.
• Choice Hotels reported quarterly earnings of $1.92 per share, just beating the analyst consensus estimate of $1.90, despite a year-over-year revenue decline of 2.0%.
• The company's stock has seen multiple price target adjustments from various analysts, with recommendations ranging from "Buy" to "Sell," and a consensus target price of $133.38.

Raymond James Financial Inc. trimmed its holdings in Choice Hotels International, Inc. (NYSE:CHH - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 333,344 shares of the company's stock after selling 6,145 shares during the quarter. Raymond James Financial Inc. owned 0.71% of Choice Hotels International worth $44,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC lifted its stake in Choice Hotels International by 56.9% in the fourth quarter. Barclays PLC now owns 17,902 shares of the company's stock worth $2,541,000 after purchasing an additional 6,493 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Choice Hotels International by 492.4% in the first quarter. SG Americas Securities LLC now owns 5,207 shares of the company's stock worth $691,000 after purchasing an additional 4,328 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Choice Hotels International by 155.0% in the first quarter. XTX Topco Ltd now owns 13,243 shares of the company's stock worth $1,758,000 after buying an additional 8,049 shares during the period. Bank of New York Mellon Corp boosted its position in Choice Hotels International by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 234,047 shares of the company's stock valued at $31,077,000 after buying an additional 7,159 shares during the period. Finally, MQS Management LLC bought a new stake in Choice Hotels International in the 1st quarter worth $434,000. Institutional investors own 65.57% of the company's stock.

Choice Hotels International Stock Performance

Shares of NYSE:CHH traded down $1.23 during trading on Thursday, reaching $119.36. 41,228 shares of the stock traded hands, compared to its average volume of 423,593. The stock has a market cap of $5.52 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.25 and a beta of 0.96. The stock has a 50-day moving average of $127.19 and a two-hundred day moving average of $130.15. Choice Hotels International, Inc. has a 52-week low of $116.20 and a 52-week high of $157.86.

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

Insider Transactions at Choice Hotels International

In related news, EVP Dominic Dragisich sold 2,500 shares of Choice Hotels International stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $136.45, for a total value of $341,125.00. Following the completion of the sale, the executive vice president owned 68,381 shares of the company's stock, valued at $9,330,587.45. The trade was a 3.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 12,500 shares of company stock valued at $1,647,400 in the last 90 days. Company insiders own 23.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CHH. Truist Financial lowered their price objective on shares of Choice Hotels International from $144.00 to $128.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Barclays lowered 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. 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 price objective on the stock. Susquehanna set a $140.00 price objective on shares of Choice Hotels International and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Morgan Stanley restated an "underweight" rating and set a $121.00 price target on shares of Choice Hotels International in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $133.38.

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.