Marriott Vacations Worldwide Corporation $VAC Stock Acquired by Penn Capital Management Company LLC

Key Points

• Penn Capital increased its Marriott Vacations Worldwide stake by 23.4% in the third quarter, adding 38,061 shares to hold 200,801 shares worth about $20.6 million. Institutional investors and hedge funds collectively own 89.52% of the stock.
• Quarterly earnings were $2.64 per share, above the $2.57 consensus, while revenue of $1.37 billion came in below expectations but rose 8.2% year over year.
• Analysts’ average rating was “Hold,” with an average price target of $111.91. The company’s quarterly dividend of $0.80 per share equates to an annualized yield of 2.8%.

Penn Capital Management Company LLC increased its position in Marriott Vacations Worldwide Corporation (NYSE:VAC - Free Report) by 23.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,801 shares of the company's stock after purchasing an additional 38,061 shares during the quarter. Marriott Vacations Worldwide accounts for 1.5% of Penn Capital Management Company LLC's portfolio, making the stock its 14th largest position. Penn Capital Management Company LLC owned 0.58% of Marriott Vacations Worldwide worth $20,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Marriott Vacations Worldwide during the second quarter valued at about $17,975,000. Ancora Advisors LLC acquired a new position in shares of Marriott Vacations Worldwide in the second quarter worth about $16,002,000. Bamco Inc. NY acquired a new position in shares of Marriott Vacations Worldwide in the second quarter worth about $14,751,000. Empowered Funds LLC acquired a new position in shares of Marriott Vacations Worldwide in the second quarter worth about $14,325,000. Finally, Deutsche Bank AG purchased a new position in Marriott Vacations Worldwide in the second quarter valued at about $10,966,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

Marriott Vacations Worldwide Price Performance

VAC opened at $115.49 on Tuesday. The company has a market capitalization of $3.97 billion, a P/E ratio of -15.54, a PEG ratio of 2.46 and a beta of 1.31. The company has a 50-day moving average of $106.45 and a 200-day moving average of $87.83. The company has a debt-to-equity ratio of 2.55, a quick ratio of 2.99 and a current ratio of 3.78. Marriott Vacations Worldwide Corporation has a 1-year low of $44.58 and a 1-year high of $131.34.

Marriott Vacations Worldwide (NYSE:VAC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.57 by $0.07. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.42 billion. Marriott Vacations Worldwide had a negative net margin of 4.75% and a positive return on equity of 14.36%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.69 earnings per share. Equities analysts expect that Marriott Vacations Worldwide Corporation will post 9.07 EPS for the current fiscal year.

Marriott Vacations Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.80 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $3.20 annualized dividend and a dividend yield of 2.8%. Marriott Vacations Worldwide's dividend payout ratio (DPR) is presently -43.07%.

Insider Buying and Selling

In other news, Director Christian Asmar sold 750,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $111.49, for a total value of $83,617,500.00. Following the completion of the sale, the director directly owned 3,380,818 shares in the company, valued at approximately $376,927,398.82. The trade was a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathleen A. Pighini sold 2,500 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $120.00, for a total value of $300,000.00. Following the sale, the insider directly owned 10,821 shares in the company, valued at approximately $1,298,520. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Marriott Vacations Worldwide from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Thursday, October 22nd. Weiss Ratings raised Marriott Vacations Worldwide from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, November 2nd. Truist Financial upped their target price on Marriott Vacations Worldwide from $97.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. Wells Fargo & Company reduced their target price on Marriott Vacations Worldwide from $100.00 to $97.00 and set an "underweight" rating for the company in a research note on Thursday, November 5th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $132.00 price target on shares of Marriott Vacations Worldwide in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $111.91.

Marriott Vacations Worldwide Company Profile

Marriott Vacations Worldwide Corporation is a global vacation ownership and leisure company. It develops, markets and sells vacation ownership interests, and operates and manages resorts and related vacation programs. Its portfolio includes Marriott Vacation Club, Sheraton Vacation Club, Westin Vacation Club, Hyatt Vacation Club and other vacation ownership brands.

The company also offers vacation exchange, rental and membership services, including through Interval International. Its resorts and programs serve travelers in destinations across the Americas, the Caribbean, Europe and the Asia-Pacific region.

Marriott Vacations Worldwide became an independent, publicly traded company after its 2011 spin-off from Marriott International.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.