Congress Asset Management Co. MA Buys 729673 Shares of ... - MarketBeat

Congress Asset Management Co. MA grew its stake in Choice Hotels International, Inc. (NYSE:CHH - Get Rating) by 3,113.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 753,107 shares of the company's stock after purchasing an additional 729,673 shares during the quarter. Congress Asset Management Co. MA owned approximately 1.41% of Choice Hotels International worth $84,830,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Fenimore Asset Management Inc. lifted its holdings in shares of Choice Hotels International by 2.2% in the fourth quarter. Fenimore Asset Management Inc. now owns 157,089 shares of the company's stock valued at $17,695,000 after purchasing an additional 3,313 shares in the last quarter. Harrison & Co Wealth Management LLC lifted its holdings in Choice Hotels International by 8.4% during the fourth quarter. Harrison & Co Wealth Management LLC now owns 7,096 shares of the company's stock worth $799,000 after acquiring an additional 550 shares during the period. First Hawaiian Bank lifted its holdings in Choice Hotels International by 68.3% during the fourth quarter. First Hawaiian Bank now owns 8,300 shares of the company's stock worth $935,000 after acquiring an additional 3,369 shares during the period. State of Alaska Department of Revenue lifted its holdings in Choice Hotels International by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 63,001 shares of the company's stock worth $7,096,000 after acquiring an additional 980 shares during the period. Finally, Bridgefront Capital LLC bought a new stake in Choice Hotels International during the third quarter worth $307,000. Institutional investors own 58.03% of the company's stock.

Choice Hotels International Price Performance

Shares of NYSE:CHH traded down $1.77 on Friday, hitting $111.28. The company's stock had a trading volume of 58,360 shares, compared to its average volume of 345,684. The company has a 50-day simple moving average of $121.40 and a 200 day simple moving average of $118.65. Choice Hotels International, Inc. has a 1 year low of $104.15 and a 1 year high of $150.41. The company has a market capitalization of $5.72 billion, a PE ratio of 18.90, a PEG ratio of 1.37 and a beta of 1.27. The company has a debt-to-equity ratio of 7.76, a current ratio of 0.80 and a quick ratio of 0.80.

Choice Hotels International (NYSE:CHH - Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.18. The company 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%. Choice Hotels International's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. Sell-side analysts forecast that Choice Hotels International, Inc. will post 5.89 EPS for the current fiscal year.

Choice Hotels International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Monday, April 3rd will be paid a dividend of $0.287 per share. This is a boost from Choice Hotels International's previous quarterly dividend of $0.24. This represents a $1.15 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 31st. Choice Hotels International's dividend payout ratio (DPR) is 15.89%.

Insider Activity

In other news, CEO Patrick Pacious sold 65,263 shares of the firm's stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $120.06, for a total transaction of $7,835,475.78. Following the transaction, the chief executive officer now directly owns 364,763 shares of the company's stock, valued at $43,793,445.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Choice Hotels International news, Director William L. Jews sold 2,214 shares of the firm's stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $119.46, for a total value of $264,484.44. Following the completion of the sale, the director now directly owns 23,389 shares in the company, valued at $2,794,049.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Pacious sold 65,263 shares of the firm's stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $120.06, for a total transaction of $7,835,475.78. Following the completion of the sale, the chief executive officer now owns 364,763 shares of the company's stock, valued at $43,793,445.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,521 shares of company stock valued at $10,955,487. 20.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CHH has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Choice Hotels International from $120.00 to $132.00 in a report on Friday. StockNews.com assumed coverage on Choice Hotels International in a research report on Thursday, March 16th. They issued a "hold" rating for the company. Morgan Stanley boosted their price objective on Choice Hotels International from $129.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 1st. Robert W. Baird upgraded Choice Hotels International from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $133.00 to $134.00 in a research note on Thursday, March 16th. Finally, Barclays upped their price target on Choice Hotels International from $107.00 to $120.00 in a research report on Thursday, February 16th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Choice Hotels International currently has a consensus rating of "Hold" and a consensus price target of $123.63.

Choice Hotels International 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.

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Want to see what other hedge funds are holding CHH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Choice Hotels International, Inc. (NYSE:CHH - Get Rating).

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

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Congress Asset Management Co. MA Buys 729673 Shares of ... - MarketBeat

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