California Public Employees Retirement System bought a new position in shares of La Quinta Holdings Inc. (NYSE:LQ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,600 shares of the company’s stock, valued at approximately $275,000.
Several other large investors have also added to or reduced their stakes in LQ. First Eagle Investment Management LLC lifted its position in shares of La Quinta by 68.6% during the second quarter. First Eagle Investment Management LLC now owns 3,092,505 shares of the company’s stock worth $45,676,000 after purchasing an additional 1,258,565 shares during the last quarter. Forward Management LLC bought a new stake in shares of La Quinta in the second quarter valued at about $4,474,000. Alliancebernstein L.P. raised its holdings in shares of La Quinta by 201.1% in the second quarter. Alliancebernstein L.P. now owns 394,100 shares of the company’s stock valued at $5,821,000 after acquiring an additional 263,200 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of La Quinta by 3.1% in the second quarter. JPMorgan Chase & Co. now owns 7,917,905 shares of the company’s stock valued at $116,948,000 after acquiring an additional 241,482 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of La Quinta by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,526,907 shares of the company’s stock valued at $88,243,000 after acquiring an additional 224,138 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
Several analysts recently weighed in on the company. TheStreet upgraded La Quinta from a “c” rating to a “b” rating in a report on Tuesday, August 8th. UBS upgraded La Quinta from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. BidaskClub upgraded La Quinta from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded La Quinta from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Wells Fargo & Company upgraded La Quinta from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.81.
La Quinta (NYSE:LQ) last announced its earnings results on Wednesday, November 1st. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). La Quinta had a return on equity of 6.23% and a net margin of 3.11%. The firm had revenue of $268.60 million during the quarter, compared to the consensus estimate of $272.52 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities research analysts predict that La Quinta Holdings Inc. will post 0.33 EPS for the current year.
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About La Quinta
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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