Comerica Bank cut its stake in shares of Marriott International Inc (NASDAQ:MAR) by 6.8% in the third quarter, Holdings Channel.com reports. The fund owned 44,056 shares of the company’s stock after selling 3,212 shares during the period. Comerica Bank’s holdings in Marriott International were worth $5,476,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in MAR. Meridian Wealth Management LLC acquired a new position in shares of Marriott International in the second quarter valued at approximately $25,000. NuWave Investment Management LLC grew its holdings in shares of Marriott International by 373.9% in the second quarter. NuWave Investment Management LLC now owns 218 shares of the company’s stock valued at $31,000 after purchasing an additional 172 shares in the last quarter. TLW Wealth Management LLC acquired a new position in shares of Marriott International in the second quarter valued at approximately $31,000. Rational Advisors LLC grew its holdings in shares of Marriott International by 373.9% in the second quarter. Rational Advisors LLC now owns 218 shares of the company’s stock valued at $31,000 after purchasing an additional 172 shares in the last quarter. Finally, Motco acquired a new position in shares of Marriott International in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 63.31% of the company’s stock.
MAR has been the subject of a number of research reports. Deutsche Bank restated a “hold” rating and issued a $123.00 price objective on shares of Marriott International in a report on Wednesday. Morgan Stanley lifted their price objective on shares of Marriott International from $123.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Cowen set a $140.00 price objective on shares of Marriott International and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on shares of Marriott International from $134.00 to $128.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, ValuEngine upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Marriott International currently has an average rating of “Hold” and a consensus price target of $134.88.
NASDAQ MAR opened at $132.58 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 8.93. Marriott International Inc has a 52 week low of $100.62 and a 52 week high of $144.24. The stock has a market capitalization of $42.87 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 3.27 and a beta of 1.27. The firm has a 50 day moving average of $123.77 and a two-hundred day moving average of $130.94.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.02). Marriott International had a return on equity of 117.92% and a net margin of 6.28%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm earned $1.70 EPS. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts expect that Marriott International Inc will post 5.91 earnings per share for the current fiscal year.
In other news, insider Craig S. Smith sold 14,915 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $128.20, for a total transaction of $1,912,103.00. Following the completion of the sale, the insider now owns 18,062 shares in the company, valued at approximately $2,315,548.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Munoz sold 4,866 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $133.61, for a total transaction of $650,146.26. Following the sale, the director now owns 6,754 shares of the company’s stock, valued at approximately $902,401.94. The disclosure for this sale can be found here. Insiders have sold a total of 23,157 shares of company stock valued at $3,008,421 in the last quarter. 12.60% of the stock is currently owned by company insiders.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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