Marriott International, Inc. (NASDAQ:MAR) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in Marriott International by 10.5% during the first quarter, owning a total of 15,238 shares valued at $3.63 million.
• Marriott International's recent earnings report showed an EPS of $2.65, meeting analyst expectations, with a revenue of $6.74 billion for the quarter.
• The company's Board approved a stock repurchase program to buy back up to 25 million shares, indicating confidence in the stock's valuation.

Townsquare Capital LLC lifted its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,238 shares of the company's stock after buying an additional 1,448 shares during the quarter. Townsquare Capital LLC's holdings in Marriott International were worth $3,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Marriott International in the fourth quarter valued at approximately $25,000. Morse Asset Management Inc bought a new position in shares of Marriott International in the first quarter valued at $30,000. Kapitalo Investimentos Ltda bought a new position in shares of Marriott International in the fourth quarter valued at $34,000. Sound Income Strategies LLC lifted its holdings in Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after purchasing an additional 50 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Marriott International during the 4th quarter valued at $38,000. Institutional investors own 70.70% of the company's stock.

Insider Buying and Selling at Marriott International

In related news, insider Rajeev Menon sold 2,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider owned 5,706 shares of the company's stock, valued at $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the sale, the chief executive officer directly owned 124,067 shares in the company, valued at $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MAR has been the subject of a number of analyst reports. UBS Group dropped their price target on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Melius Research raised Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Stifel Nicolaus dropped their price target on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Barclays lowered their target price on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and increased their price target for the company from $226.00 to $303.00 in a research report on Monday, May 12th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $280.89.

Marriott International Price Performance

NASDAQ MAR traded up $4.69 during trading hours on Wednesday, reaching $269.70. The company's stock had a trading volume of 1,038,511 shares, compared to its average volume of 1,719,107. The firm has a market capitalization of $73.21 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 2.46 and a beta of 1.44. Marriott International, Inc. has a 1-year low of $205.40 and a 1-year high of $307.52. The company's 50-day moving average is $268.73 and its two-hundred day moving average is $261.16.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.65. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. Equities analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 7th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 21st. Marriott International's dividend payout ratio (DPR) is presently 30.21%.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.