Three Peaks Capital Management LLC Sells 43,157 Shares of Extended Stay America (NYSE:STAY)

Three Peaks Capital Management LLC trimmed its stake in Extended Stay America (NYSE:STAY) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,962 shares of the company’s stock after selling 43,157 shares during the period. Three Peaks Capital Management LLC owned approximately 0.09% of Extended Stay America worth $2,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strs Ohio grew its position in shares of Extended Stay America by 10.4% in the 4th quarter. Strs Ohio now owns 21,946 shares of the company’s stock valued at $340,000 after buying an additional 2,061 shares during the last quarter. First Bank & Trust grew its position in Extended Stay America by 52.4% during the 4th quarter. First Bank & Trust now owns 6,630 shares of the company’s stock worth $103,000 after purchasing an additional 2,279 shares during the last quarter. Cadence Capital Management LLC grew its position in Extended Stay America by 18.6% during the 3rd quarter. Cadence Capital Management LLC now owns 17,861 shares of the company’s stock worth $361,000 after purchasing an additional 2,798 shares during the last quarter. CI Global Investments Inc. grew its position in Extended Stay America by 0.8% during the 3rd quarter. CI Global Investments Inc. now owns 479,659 shares of the company’s stock worth $9,708,000 after purchasing an additional 3,707 shares during the last quarter. Finally, GAM Holding AG grew its position in Extended Stay America by 18.8% during the 3rd quarter. GAM Holding AG now owns 23,466 shares of the company’s stock worth $475,000 after purchasing an additional 3,716 shares during the last quarter. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE STAY opened at $17.28 on Thursday. Extended Stay America has a 52 week low of $14.77 and a 52 week high of $22.58.

STAY has been the subject of several recent analyst reports. Bank of America cut shares of Extended Stay America from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Morgan Stanley set a $21.00 target price on shares of Extended Stay America and gave the stock a “buy” rating in a research note on Thursday, December 20th. JPMorgan Chase & Co. reduced their target price on shares of Extended Stay America from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. Finally, Zacks Investment Research restated a “hold” rating on shares of Extended Stay America in a research note on Friday, November 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $22.31.

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Extended Stay America Company Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

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Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

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