Redwood Investment Management LLC Sells 8,435 Shares of Choice Hotels International, Inc. $CHH

Key Points

• Redwood Investment Management LLC reduced its stake in Choice Hotels International by 23.4% in Q1, bringing its total holdings to 27,649 shares valued at approximately $3.67 million.
• Several hedge funds have increased their holdings in Choice Hotels, with UMB Bank n.a. boosting its position by 66.2% during the same period.
• Choice Hotels reported a quarterly EPS of $1.92, surpassing estimates, but its revenue decreased by 2.0% year-over-year, indicating mixed performance.

Redwood Investment Management LLC decreased its stake in Choice Hotels International, Inc. (NYSE:CHH - Free Report) by 23.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,649 shares of the company's stock after selling 8,435 shares during the quarter. Redwood Investment Management LLC owned approximately 0.06% of Choice Hotels International worth $3,671,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in Choice Hotels International by 66.2% in the first quarter. UMB Bank n.a. now owns 256 shares of the company's stock valued at $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 during the 1st quarter worth $35,000. Signaturefd LLC increased its stake in shares of Choice Hotels International by 64.7% during the 1st quarter. Signaturefd LLC now owns 275 shares of the company's stock worth $37,000 after purchasing an additional 108 shares during the last quarter. Quarry LP increased its stake in shares of Choice Hotels International by 25.6% during the 4th quarter. Quarry LP now owns 604 shares of the company's stock worth $86,000 after purchasing an additional 123 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Choice Hotels International by 1,694.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 664 shares of the company's stock worth $88,000 after purchasing an additional 627 shares during the last quarter. 65.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Choice Hotels International in a research note on Monday, June 23rd. They set an "underweight" rating and a $124.00 price target on the stock. Barclays dropped their price target on shares of Choice Hotels International from $121.00 to $117.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Truist Financial dropped their price target on shares of Choice Hotels International from $144.00 to $128.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Morgan Stanley restated an "underweight" rating and set a $121.00 price target on shares of Choice Hotels International in a research note on Tuesday, July 15th. Finally, Robert W. Baird dropped 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. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $133.38.

Choice Hotels International Trading Up 0.4%

CHH stock traded up $0.53 during trading on Friday, hitting $119.62. 293,457 shares of the stock traded hands, compared to its average volume of 431,415. Choice Hotels International, Inc. has a one year low of $116.20 and a one year high of $157.86. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.25 and a beta of 0.96. The company has a 50 day simple moving average of $127.04 and a 200 day simple moving average of $129.71.

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

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.