Extended Stay America, Inc. (NYSE:STAY) was the target of a large decrease in short interest in the month of October. As of October 13th, there was short interest totalling 3,066,727 shares, a decrease of 57.1% from the September 29th total of 7,141,554 shares. Based on an average trading volume of 1,262,138 shares, the short-interest ratio is currently 2.4 days.
Extended Stay America (NYSE STAY) opened at 19.91 on Monday. The firm’s 50-day moving average price is $20.13 and its 200 day moving average price is $19.03. The company has a market cap of $3.83 billion, a PE ratio of 25.56 and a beta of 1.06. Extended Stay America has a 52-week low of $13.59 and a 52-week high of $20.95.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Extended Stay America had a net margin of 5.24% and a return on equity of 14.53%. The firm had revenue of $338.36 million for the quarter, compared to analysts’ expectations of $342.70 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that Extended Stay America will post $1.02 EPS for the current fiscal year.
STAY has been the topic of several recent research reports. Zacks Investment Research upgraded Extended Stay America from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Thursday. BidaskClub cut Extended Stay America from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Robert W. Baird reiterated a “buy” rating and set a $21.00 price objective on shares of Extended Stay America in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Extended Stay America has a consensus rating of “Buy” and an average target price of $21.20.
Hedge funds and other institutional investors have recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its position in shares of Extended Stay America by 7.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,236,716 shares of the company’s stock valued at $23,943,000 after buying an additional 87,071 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Extended Stay America during the 2nd quarter valued at $19,701,000. Cipher Capital LP raised its stake in shares of Extended Stay America by 159.8% during the 2nd quarter. Cipher Capital LP now owns 201,817 shares of the company’s stock valued at $3,907,000 after purchasing an additional 124,137 shares during the period. Utah Retirement Systems raised its stake in shares of Extended Stay America by 125.7% during the 2nd quarter. Utah Retirement Systems now owns 30,250 shares of the company’s stock valued at $585,000 after purchasing an additional 16,850 shares during the period. Finally, Greenwood Capital Associates LLC bought a new stake in shares of Extended Stay America during the 2nd quarter valued at $783,000. 99.47% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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