Oppenheimer Asset Management Inc. Takes Position in Choice Hotels International, Inc. (NYSE:CHH)

Posted by Defense World Staff on May 6th, 2023

Oppenheimer Asset Management Inc. acquired a new stake in shares of Choice Hotels International, Inc. (NYSE:CHH – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,410 shares of the company’s stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CHH. Congress Asset Management Co. MA grew its holdings in Choice Hotels International by 3,113.7% during the fourth quarter. Congress Asset Management Co. MA now owns 753,107 shares of the company’s stock worth $84,830,000 after buying an additional 729,673 shares in the last quarter. Invesco Ltd. grew its holdings in Choice Hotels International by 51.6% during the first quarter. Invesco Ltd. now owns 1,740,428 shares of the company’s stock worth $246,722,000 after buying an additional 592,654 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Choice Hotels International by 116.0% during the first quarter. Goldman Sachs Group Inc. now owns 627,869 shares of the company’s stock worth $89,006,000 after buying an additional 337,252 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Choice Hotels International by 604.6% during the third quarter. Alliancebernstein L.P. now owns 364,744 shares of the company’s stock worth $39,947,000 after buying an additional 312,978 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Choice Hotels International by 44.0% during the third quarter. Victory Capital Management Inc. now owns 627,446 shares of the company’s stock worth $68,718,000 after buying an additional 191,738 shares in the last quarter. Institutional investors own 58.03% of the company’s stock.

Insider Buying and Selling

In related news, insider Patrick Cimerola sold 748 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $125.95, for a total transaction of $94,210.60. Following the sale, the insider now owns 30,199 shares of the company’s stock, valued at approximately $3,803,564.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William L. Jews sold 2,214 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $119.46, for a total transaction of $264,484.44. Following the sale, the director now owns 23,389 shares of the company’s stock, valued at approximately $2,794,049.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Cimerola sold 748 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $125.95, for a total value of $94,210.60. Following the completion of the sale, the insider now directly owns 30,199 shares in the company, valued at approximately $3,803,564.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,837 shares of company stock valued at $9,365,231. Corporate insiders own 20.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CHH. Truist Financial upped their price target on Choice Hotels International from $120.00 to $132.00 and gave the stock a “hold” rating in a report on Friday, March 24th. Barclays upped their price objective on Choice Hotels International from $107.00 to $120.00 in a research note on Thursday, February 16th. StockNews.com started coverage on Choice Hotels International in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company reduced their price objective on Choice Hotels International from $122.00 to $113.00 and set an “underweight” rating for the company in a research note on Thursday, March 30th. Finally, Morgan Stanley reduced their price objective on Choice Hotels International from $134.00 to $130.00 and set an “equal weight” rating for the company in a research note on Monday, April 17th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $121.88.

Choice Hotels International Stock Up 1.0 %

Shares of NYSE CHH opened at $129.27 on Friday. Choice Hotels International, Inc. has a one year low of $104.15 and a one year high of $136.12. The company has a debt-to-equity ratio of 7.76, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average price is $120.79 and its 200-day moving average price is $120.56. The stock has a market capitalization of $6.63 billion, a PE ratio of 21.62, a P/E/G ratio of 1.76 and a beta of 1.27.

Choice Hotels International (NYSE:CHH – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $362.00 million for the quarter, compared to analysts’ expectations of $356.74 million. Choice Hotels International had a return on equity of 99.85% and a net margin of 23.69%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that Choice Hotels International, Inc. will post 5.91 EPS for the current year.

Choice Hotels International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 18th. Investors of record on Monday, April 3rd were issued a dividend of $0.287 per share. This is a boost from Choice Hotels International’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, March 31st. This represents a $1.15 dividend on an annualized basis and a yield of 0.89%. Choice Hotels International’s dividend payout ratio is 19.23%.

Choice Hotels International Company Profile

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Choice Hotels International, Inc engages in the franchising and operations of hotels. It operates through Hotel Franchising, and Corporate and Other segments. The Hotel Franchising segment refers to the hotel franchising operations consisting of the company’s several hotel brands. The Corporate and Other segment deals with hotel revenues and rental income related to office buildings owned by the company.