Freestone Grove Partners LP Acquires New Position in Hyatt Hotels Corporation $H

Key Points

• Freestone Grove Partners LP acquired 276,291 Hyatt Hotels shares worth approximately $30.5 million, representing about 0.29% of the company. Institutional investors collectively own 73.54% of Hyatt’s stock.
• Analyst sentiment remains positive overall, with nine Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $196.64.
• Hyatt reported quarterly EPS of $1.12, beating estimates of $0.91, while revenue rose 1.2% year over year to $1.83 billion. The company also declared a quarterly dividend of $0.15 per share.

Freestone Grove Partners LP bought a new position in Hyatt Hotels Corporation (NYSE:H - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 276,291 shares of the company's stock, valued at approximately $30,467,000. Freestone Grove Partners LP owned approximately 0.29% of Hyatt Hotels at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Hyatt Hotels by 4.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,459 shares of the company's stock worth $210,000 after acquiring an additional 60 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Hyatt Hotels by 1.0% during the first quarter. Pacer Advisors Inc. now owns 6,625 shares of the company's stock valued at $953,000 after buying an additional 67 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Hyatt Hotels by 18.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 459 shares of the company's stock valued at $74,000 after buying an additional 72 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Hyatt Hotels by 3.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,318 shares of the company's stock worth $372,000 after buying an additional 79 shares during the period. Finally, Ethic Inc. lifted its stake in shares of Hyatt Hotels by 3.5% in the 4th quarter. Ethic Inc. now owns 2,533 shares of the company's stock valued at $406,000 after acquiring an additional 85 shares during the last quarter. 73.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Susan D. Kronick sold 1,700 shares of Hyatt Hotels stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $179.88, for a total transaction of $305,796.00. Following the sale, the director directly owned 29,525 shares in the company, valued at $5,310,957. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Udell sold 2,087 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $188.00, for a total value of $392,356.00. Following the completion of the transaction, the insider owned 16,638 shares of the company's stock, valued at approximately $3,127,944. This trade represents a 11.15% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 23.60% of the company's stock.

Analyst Ratings Changes

H has been the topic of several recent research reports. Sanford C. Bernstein raised their price target on Hyatt Hotels from $186.00 to $202.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Robert W. Baird cut their target price on shares of Hyatt Hotels from $198.00 to $191.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Mizuho lifted their target price on shares of Hyatt Hotels from $219.00 to $221.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Truist Financial upped their price target on shares of Hyatt Hotels from $181.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Finally, HSBC raised shares of Hyatt Hotels from a "hold" rating to a "buy" rating and set a $212.00 price target on the stock in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $196.64.

Hyatt Hotels Stock Down 2.5%

Shares of Hyatt Hotels stock opened at $173.20 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.01. Hyatt Hotels Corporation has a 12-month low of $134.18 and a 12-month high of $206.86. The company has a market cap of $16.32 billion, a P/E ratio of 211.22 and a beta of 1.33. The company's fifty day simple moving average is $185.57 and its two-hundred day simple moving average is $172.73.

Hyatt Hotels (NYSE:H - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.91 by $0.21. Hyatt Hotels had a net margin of 1.10% and a return on equity of 7.27%. The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period last year, the company posted $0.68 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that Hyatt Hotels Corporation will post 3.54 EPS for the current year.

Hyatt Hotels Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, August 27th. Hyatt Hotels's dividend payout ratio (DPR) is presently 73.17%.

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.

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