Wellington Management Group LLP Sells 601,011 Shares of Ryman Hospitality Properties, Inc. $RHP

Key Points

• Wellington Management Group LLP reduced its stake in Ryman Hospitality Properties by 38.0%, now holding 979,599 shares valued at approximately $89.6 million.
• Various institutional investors have adjusted their holdings, with significant increases from Raymond James Financial Inc. (+43.6%) and Hamlin Capital Management LLC (+42.2%) in the first quarter.
• Despite a recent stock price decline of 0.6%, Ryman Hospitality Properties reported a 7.5% revenue increase year-over-year, highlighting strong earnings performance in its latest quarterly results.

Wellington Management Group LLP cut its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 38.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 979,599 shares of the real estate investment trust's stock after selling 601,011 shares during the quarter. Wellington Management Group LLP owned about 1.63% of Ryman Hospitality Properties worth $89,575,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RHP. Heck Capital Advisors LLC purchased a new position in shares of Ryman Hospitality Properties in the fourth quarter valued at $31,000. Fifth Third Bancorp grew its position in shares of Ryman Hospitality Properties by 175.6% in the first quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 367 shares in the last quarter. CWM LLC grew its position in shares of Ryman Hospitality Properties by 213.4% in the first quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 493 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Ryman Hospitality Properties in the fourth quarter valued at $108,000. Finally, State of Wyoming grew its position in shares of Ryman Hospitality Properties by 23.8% in the fourth quarter. State of Wyoming now owns 1,561 shares of the real estate investment trust's stock valued at $163,000 after purchasing an additional 300 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Colin V. Reed bought 8,356 shares of the stock in a transaction dated Monday, June 9th. The stock was bought at an average price of $96.92 per share, with a total value of $809,863.52. Following the purchase, the chairman owned 870,406 shares in the company, valued at approximately $84,359,749.52. The trade was a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total value of $128,713.00. Following the completion of the sale, the director directly owned 2,576 shares of the company's stock, valued at approximately $255,049.76. This trade represents a 33.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company's stock.

Ryman Hospitality Properties Price Performance

RHP stock traded up $1.52 during mid-day trading on Wednesday, hitting $98.53. 57,211 shares of the stock were exchanged, compared to its average volume of 795,940. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.63 and a quick ratio of 1.63. The business has a fifty day moving average price of $98.46 and a 200 day moving average price of $95.80. Ryman Hospitality Properties, Inc. has a 12 month low of $76.27 and a 12 month high of $121.77. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.74 and a beta of 1.62.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. Ryman Hospitality Properties had a return on equity of 41.65% and a net margin of 10.74%.The firm had revenue of $659.52 million during the quarter, compared to analyst estimates of $616.56 million. During the same quarter in the previous year, the company posted $2.78 earnings per share. The company's revenue was up 7.5% compared to the same quarter last year. Ryman Hospitality Properties has set its FY 2025 guidance at 7.930-8.490 EPS. On average, sell-side analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RHP shares. Wall Street Zen cut Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wedbush set a $110.00 price objective on Ryman Hospitality Properties and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Bank of America lifted their price objective on Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their price objective on Ryman Hospitality Properties from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Truist Financial dropped their price objective on Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $115.50.

Ryman Hospitality Properties 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.