BlackRock Inc. Boosts Position in Choice Hotels International, Inc. (NYSE:CHH)

BlackRock Inc. increased its stake in Choice Hotels International, Inc. (NYSE:CHH) by 2,026.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,343,529 shares of the company’s stock after buying an additional 2,233,299 shares during the period. BlackRock Inc. owned approximately 4.16% of Choice Hotels International worth $146,706,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Choice Hotels International by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,606,362 shares of the company’s stock valued at $163,158,000 after buying an additional 108,427 shares during the last quarter. Swiss National Bank raised its position in shares of Choice Hotels International by 1.0% in the first quarter. Swiss National Bank now owns 60,067 shares of the company’s stock valued at $3,760,000 after buying an additional 600 shares during the last quarter. Pacer Advisors Inc. raised its position in Choice Hotels International by 14.6% in the first quarter. Pacer Advisors Inc. now owns 6,329 shares of the company’s stock valued at $396,000 after buying an additional 806 shares during the last quarter. Piermont Capital Management Inc. acquired a new position in Choice Hotels International during the first quarter valued at approximately $586,000. Finally, Trexquant Investment LP raised its position in Choice Hotels International by 7.9% in the first quarter. Trexquant Investment LP now owns 4,472 shares of the company’s stock valued at $280,000 after buying an additional 328 shares during the last quarter. Institutional investors and hedge funds own 49.70% of the company’s stock.

Shares of Choice Hotels International, Inc. (NYSE:CHH) opened at 61.20 on Friday. The stock’s 50 day moving average is $63.78 and its 200-day moving average is $62.59. The firm has a market cap of $3.43 billion, a P/E ratio of 22.61 and a beta of 1.11. Choice Hotels International, Inc. has a 52-week low of $43.70 and a 52-week high of $67.80.

Choice Hotels International (NYSE:CHH) last posted its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The firm had revenue of $276.80 million during the quarter, compared to analyst estimates of $254.68 million. Choice Hotels International had a negative return on equity of 51.30% and a net margin of 16.11%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. Equities analysts anticipate that Choice Hotels International, Inc. will post $2.85 earnings per share for the current fiscal year.

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Several research analysts recently commented on CHH shares. Zacks Investment Research lowered shares of Choice Hotels International from a “buy” rating to a “hold” rating in a report on Friday, April 14th. BidaskClub upgraded shares of Choice Hotels International from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 3rd. Telsey Advisory Group raised their price target on shares of Choice Hotels International from $59.00 to $63.00 and gave the company a “market perform” rating in a report on Friday, May 5th. Morgan Stanley lowered shares of Choice Hotels International from an “overweight” rating to an “equal weight” rating and set a $65.00 price target on the stock. in a report on Friday, May 5th. They noted that the move was a valuation call. Finally, Deutsche Bank AG cut their price target on shares of Choice Hotels International from $68.00 to $66.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Choice Hotels International currently has an average rating of “Hold” and an average target price of $62.57.

In other Choice Hotels International news, CEO Stephen P. Joyce sold 44,116 shares of Choice Hotels International stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $62.88, for a total value of $2,774,014.08. Following the transaction, the chief executive officer now directly owns 201,922 shares of the company’s stock, valued at approximately $12,696,855.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen P. Joyce sold 17,024 shares of Choice Hotels International stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $63.02, for a total value of $1,072,852.48. Following the completion of the transaction, the chief executive officer now directly owns 176,943 shares in the company, valued at $11,150,947.86. The disclosure for this sale can be found here. Insiders own 22.01% of the company’s stock.

About Choice Hotels International

Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.

Institutional Ownership by Quarter for Choice Hotels International (NYSE:CHH)

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