Ryman Hospitality Properties, Inc. (NYSE:RHP) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Ryman Hospitality Properties by 43.5%, selling 3,069 shares and now holding 3,993 shares valued at approximately $365,000.
• Ryman Hospitality Properties has recently reported a quarterly earnings per share of $2.35, which exceeded analyst expectations, with revenue rising 7.5% year-over-year.
• Analyst ratings for Ryman Hospitality are mixed, with one downgrade to a "sell" and multiple upgrades, leading to an average rating of "Moderate Buy" and an average price target of $114.75.

Mackenzie Financial Corp cut its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 43.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,993 shares of the real estate investment trust's stock after selling 3,069 shares during the quarter. Mackenzie Financial Corp's holdings in Ryman Hospitality Properties were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RHP. Sheaff Brock Investment Advisors LLC grew its stake in shares of Ryman Hospitality Properties by 8.5% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 6,241 shares of the real estate investment trust's stock valued at $571,000 after buying an additional 487 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ryman Hospitality Properties by 3.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,387 shares of the real estate investment trust's stock valued at $3,419,000 after buying an additional 1,296 shares during the period. TD Asset Management Inc grew its stake in shares of Ryman Hospitality Properties by 3.6% in the 1st quarter. TD Asset Management Inc now owns 14,294 shares of the real estate investment trust's stock valued at $1,307,000 after buying an additional 494 shares during the period. Cetera Investment Advisers grew its stake in shares of Ryman Hospitality Properties by 27.2% in the 1st quarter. Cetera Investment Advisers now owns 5,686 shares of the real estate investment trust's stock valued at $520,000 after buying an additional 1,217 shares during the period. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Ryman Hospitality Properties by 2.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 14,000 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 400 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Colin V. Reed acquired 8,356 shares of Ryman Hospitality Properties stock in a transaction dated Monday, June 9th. The shares were acquired at an average cost of $96.92 per share, for a total transaction of $809,863.52. Following the acquisition, the chairman owned 870,406 shares of the company's stock, valued at $84,359,749.52. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of Ryman Hospitality Properties stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the sale, the director owned 2,576 shares in the company, valued at $255,049.76. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

Ryman Hospitality Properties Stock Down 0.6%

RHP stock traded down $0.52 during midday trading on Monday, hitting $91.89. The company's stock had a trading volume of 536,884 shares, compared to its average volume of 817,796. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 4.72. Ryman Hospitality Properties, Inc. has a 52-week low of $76.27 and a 52-week high of $121.77. The firm has a market capitalization of $5.79 billion, a P/E ratio of 21.93, a PEG ratio of 2.13 and a beta of 1.62. The firm has a 50-day simple moving average of $98.88 and a 200-day simple moving average of $96.49.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. Ryman Hospitality Properties had a net margin of 10.74% and a return on equity of 41.65%. The company had revenue of $659.52 million during the quarter, compared to analysts' expectations of $616.56 million. During the same quarter last year, the company posted $2.78 EPS. The firm's revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America increased their price target on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wall Street Zen cut shares of Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company increased their price objective on shares of Ryman Hospitality Properties from $101.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Truist Financial lowered their price objective on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Evercore ISI lowered their price objective on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Ryman Hospitality Properties presently has a consensus rating of "Moderate Buy" and an average target price of $114.75.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc NYSE: RHP is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.