Oppenheimer Asset Management Inc. Reduces Stock Position in Hyatt Hotels Co. (NYSE:H)

Oppenheimer Asset Management Inc. trimmed its position in Hyatt Hotels Co. (NYSE:H) by 40.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,075 shares of the company’s stock after selling 2,057 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Hyatt Hotels were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of H. Victory Capital Management Inc. boosted its holdings in shares of Hyatt Hotels by 12.3% during the third quarter. Victory Capital Management Inc. now owns 29,076 shares of the company’s stock worth $4,425,000 after purchasing an additional 3,176 shares during the last quarter. Aigen Investment Management LP purchased a new position in Hyatt Hotels during the third quarter worth about $621,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Hyatt Hotels by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 84,971 shares of the company’s stock worth $12,933,000 after buying an additional 610 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in Hyatt Hotels by 18.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,917 shares of the company’s stock valued at $596,000 after buying an additional 622 shares during the period. Finally, Bridges Investment Management Inc. increased its stake in shares of Hyatt Hotels by 7.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 4,242 shares of the company’s stock valued at $646,000 after acquiring an additional 287 shares during the last quarter. 71.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hyatt Hotels

In related news, insider Mark Samuel Hoplamazian sold 51,388 shares of Hyatt Hotels stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $149.77, for a total value of $7,696,380.76. Following the transaction, the insider now directly owns 623,556 shares in the company, valued at $93,389,982.12. The trade was a 7.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 23.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on H shares. The Goldman Sachs Group began coverage on shares of Hyatt Hotels in a report on Wednesday, September 18th. They issued a “neutral” rating and a $151.00 target price for the company. StockNews.com raised shares of Hyatt Hotels from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Truist Financial reduced their target price on Hyatt Hotels from $169.00 to $158.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Evercore ISI upped their price target on Hyatt Hotels from $145.00 to $155.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Mizuho reduced their price objective on Hyatt Hotels from $200.00 to $198.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Hyatt Hotels presently has a consensus rating of “Hold” and an average price target of $151.57.

Hyatt Hotels Stock Performance

NYSE:H opened at $153.26 on Wednesday. Hyatt Hotels Co. has a 1-year low of $112.85 and a 1-year high of $162.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $14.72 billion, a P/E ratio of 11.55 and a beta of 1.50. The firm has a 50-day moving average of $152.26 and a two-hundred day moving average of $149.22.

Hyatt Hotels (NYSE:H) last released its earnings results on Thursday, October 31st. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Hyatt Hotels had a net margin of 20.55% and a return on equity of 10.74%. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, research analysts expect that Hyatt Hotels Co. will post 3.85 earnings per share for the current fiscal year.

Hyatt Hotels Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.39%. Hyatt Hotels’s payout ratio is 4.52%.

About Hyatt Hotels

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units.