Parkside Investments LLC boosted its position in shares of Marriott International Inc (NASDAQ:MAR) by 77.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,500 shares of the company’s stock after buying an additional 2,400 shares during the period. Parkside Investments LLC’s holdings in Marriott International were worth $747,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. Renaissance Technologies LLC purchased a new position in Marriott International during the 2nd quarter worth $12,506,000. Numeric Investors LLC purchased a new position in Marriott International during the 2nd quarter worth $772,000. QS Investors LLC increased its holdings in Marriott International by 26.4% during the 2nd quarter. QS Investors LLC now owns 4,840 shares of the company’s stock worth $486,000 after purchasing an additional 1,010 shares during the period. AHL Partners LLP increased its holdings in Marriott International by 230.4% during the 2nd quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock worth $1,967,000 after purchasing an additional 13,679 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Marriott International during the 2nd quarter worth $341,000. Institutional investors own 66.68% of the company’s stock.
Shares of Marriott International Inc (NASDAQ:MAR) opened at $134.42 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $50,910.13, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.27 and a beta of 1.35. Marriott International Inc has a 52-week low of $85.63 and a 52-week high of $149.21.
Marriott International announced that its board has authorized a share buyback program on Thursday, November 9th that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
MAR has been the topic of several research reports. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, October 26th. Royal Bank of Canada restated a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Morgan Stanley restated a “buy” rating on shares of Marriott International in a report on Friday, December 8th. Sanford C. Bernstein downgraded Marriott International from an “outperform” rating to a “market perform” rating in a report on Thursday, November 16th. Finally, Robert W. Baird set a $103.00 price objective on Marriott International and gave the stock a “hold” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Marriott International has a consensus rating of “Buy” and a consensus target price of $117.21.
In other news, insider Argiris Kyriakidis sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $121.55, for a total value of $303,875.00. Following the completion of the sale, the insider now owns 13,579 shares of the company’s stock, valued at approximately $1,650,527.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward A. Ryan sold 6,550 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $120.40, for a total value of $788,620.00. Following the completion of the sale, the executive vice president now directly owns 67,856 shares of the company’s stock, valued at approximately $8,169,862.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,825 shares of company stock worth $11,886,720 in the last ninety days. Insiders own 11.32% of the company’s stock.
Marriott International Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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