Chicago Equity Partners LLC lowered its stake in shares of Extended Stay America (NYSE:STAY) by 37.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,440 shares of the company’s stock after selling 25,495 shares during the period. Chicago Equity Partners LLC’s holdings in Extended Stay America were worth $621,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Hilltop Holdings Inc. boosted its stake in shares of Extended Stay America by 13.1% during the second quarter. Hilltop Holdings Inc. now owns 11,573 shares of the company’s stock valued at $195,000 after acquiring an additional 1,336 shares during the last quarter. OLD National Bancorp IN boosted its stake in Extended Stay America by 5.4% in the 3rd quarter. OLD National Bancorp IN now owns 26,641 shares of the company’s stock worth $390,000 after buying an additional 1,369 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Extended Stay America by 5.4% in the 2nd quarter. Raymond James Trust N.A. now owns 30,949 shares of the company’s stock worth $523,000 after buying an additional 1,586 shares during the last quarter. Sterling Investment Advisors Ltd. acquired a new stake in Extended Stay America in the 2nd quarter worth about $34,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Extended Stay America in the 3rd quarter worth about $36,000. 96.67% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Jefferies Financial Group lowered Extended Stay America from a “buy” rating to a “hold” rating and decreased their price target for the stock from $24.00 to $16.00 in a research note on Thursday, August 8th. They noted that the move was a valuation call. Deutsche Bank set a $22.00 price target on Extended Stay America and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird set a $19.00 price target on Extended Stay America and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Barclays set a $17.00 price target on Extended Stay America and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus decreased their price target on Extended Stay America from $20.50 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.80.
Shares of NYSE:STAY opened at $14.72 on Thursday. The stock’s 50-day moving average price is $14.47 and its two-hundred day moving average price is $15.92. Extended Stay America has a 12-month low of $12.88 and a 12-month high of $19.73.
Extended Stay America (NYSE:STAY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $323.70 million during the quarter, compared to the consensus estimate of $317.12 million. Extended Stay America’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS.
In other news, insider Kevin A. Henry sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $13.86, for a total value of $103,950.00. Following the transaction, the insider now directly owns 108,683 shares in the company, valued at approximately $1,506,346.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $14.63 per share, for a total transaction of $146,300.00. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.
Extended Stay America Company Profile
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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