Extended Stay America, Inc. (STAY) Shares Sold by Balyasny Asset Management LLC

Balyasny Asset Management LLC decreased its stake in Extended Stay America, Inc. (NYSE:STAY) by 50.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,389 shares of the company’s stock after selling 355,272 shares during the period. Balyasny Asset Management LLC owned about 0.18% of Extended Stay America worth $6,822,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Extended Stay America by 49.9% in the 2nd quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock worth $293,215,000 after buying an additional 5,044,514 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Extended Stay America by 82.3% in the 2nd quarter. BlackRock Inc. now owns 12,118,235 shares of the company’s stock worth $234,608,000 after buying an additional 5,469,312 shares during the last quarter. Investec Asset Management LTD increased its holdings in shares of Extended Stay America by 2.2% in the 2nd quarter. Investec Asset Management LTD now owns 8,874,263 shares of the company’s stock worth $171,806,000 after buying an additional 189,347 shares during the last quarter. Hamlin Capital Management LLC bought a new position in shares of Extended Stay America in the 2nd quarter worth $102,091,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Extended Stay America by 29.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,816,589 shares of the company’s stock worth $93,233,000 after buying an additional 1,095,624 shares during the last quarter. 99.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Extended Stay America, Inc. (STAY) opened at 20.60 on Friday. The stock has a market cap of $3.96 billion, a PE ratio of 26.44 and a beta of 1.06. Extended Stay America, Inc. has a 52 week low of $13.00 and a 52 week high of $20.63. The stock has a 50 day moving average of $19.53 and a 200-day moving average of $18.56.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The business had revenue of $338.36 million during the quarter, compared to the consensus estimate of $342.70 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts predict that Extended Stay America, Inc. will post $1.02 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on STAY. Stifel Nicolaus reaffirmed a “buy” rating and issued a $21.00 price objective (up previously from $20.00) on shares of Extended Stay America in a research note on Thursday, June 29th. BidaskClub raised shares of Extended Stay America from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Extended Stay America from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Extended Stay America in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.75.

WARNING: This story was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://transcriptdaily.com/2017/10/08/extended-stay-america-inc-stay-shares-sold-by-balyasny-asset-management-llc.html.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

Want to see what other hedge funds are holding STAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extended Stay America, Inc. (NYSE:STAY).

Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

Receive News & Ratings for Extended Stay America Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply