Stock Traders Purchase Large Volume of Marriott International Call Options (NASDAQ:MAR)

Key Points

• Marriott International saw a significant increase in call options purchases, with 27,226 options traded, marking a 721% rise from the average daily volume.
• The company reported a quarterly earnings per share (EPS) of $2.65, meeting analysts' estimates, and a revenue increase of 4.7% year-over-year to $6.74 billion.
• Marriott increased its quarterly dividend from $0.63 to $0.67 per share, reflecting a payout ratio of 30.52% and a yield of 1.0%.

Marriott International, Inc. (NASDAQ:MAR - Get Free Report) was the target of some unusual options trading activity on Tuesday. Traders bought 27,226 call options on the stock. Thisrepresentsanincreaseof721% compared to the typical daily volume of 3,316 call options.

Insider Activity

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the business'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 completion of the sale, the insider directly owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction on Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, the executive vice president directly owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,107,710 in the last ninety days. Corporate insiders own 10.68% of the company's stock.

Hedge Funds Weigh In On Marriott International

A number of hedge funds have recently made changes to their positions in MAR. Zions Bancorporation National Association UT raised its stake in shares of Marriott International by 60.9% in the 2nd quarter. Zions Bancorporation National Association UT now owns 531 shares of the company's stock valued at $145,000 after purchasing an additional 201 shares in the last quarter. Midwest Trust Co bought a new stake in Marriott International during the second quarter valued at $239,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Marriott International by 4.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,480 shares of the company's stock worth $125,261,000 after buying an additional 19,228 shares during the last quarter. Bradley & Co. Private Wealth Management LLC raised its stake in Marriott International by 31.9% during the second quarter. Bradley & Co. Private Wealth Management LLC now owns 471 shares of the company's stock worth $129,000 after acquiring an additional 114 shares during the period. Finally, Aviva PLC boosted its stake in Marriott International by 6.6% in the second quarter. Aviva PLC now owns 175,974 shares of the company's stock valued at $48,078,000 after acquiring an additional 10,918 shares during the period. Hedge funds and other institutional investors own 70.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MAR. Truist Financial dropped their target price on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a report on Friday, May 30th. Melius Research upgraded Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Morgan Stanley lowered their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. began coverage on Marriott International in a research note on Monday, June 23rd. They set a "neutral" rating and a $284.00 price target on the stock. Finally, UBS Group cut their target price on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $280.89.

Marriott International Price Performance

Shares of NASDAQ MAR traded down $1.47 during mid-day trading on Thursday, hitting $261.24. The company had a trading volume of 606,757 shares, compared to its average volume of 1,725,341. The company has a market capitalization of $71.55 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.49 and a beta of 1.44. The business's 50-day simple moving average is $268.91 and its 200 day simple moving average is $261.84. Marriott International has a 1-year low of $205.40 and a 1-year high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting the consensus estimate of $2.65. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 94.29%. Marriott International's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. On average, analysts expect that Marriott International will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a dividend of $0.67 per share. This is a boost from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International's dividend payout ratio is currently 30.52%.

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.