Marriott International Inc (NASDAQ:MAR) CEO Arne M. Sorenson sold 63,726 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $124.15, for a total value of $7,911,582.90. Following the transaction, the chief executive officer now owns 750,500 shares of the company’s stock, valued at $93,174,575. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of MAR traded down $1.52 during midday trading on Friday, reaching $134.41. 1,378,277 shares of the stock were exchanged, compared to its average volume of 1,682,304. Marriott International Inc has a 52 week low of $100.62 and a 52 week high of $142.19. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $45.26 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.04 and a beta of 1.21.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Thursday, February 28th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. Marriott International had a return on equity of 80.36% and a net margin of 8.74%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the company earned $1.12 EPS. On average, equities research analysts predict that Marriott International Inc will post 6.05 EPS for the current year.
Several research analysts have weighed in on the company. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Morgan Stanley set a $117.00 price objective on Marriott International and gave the stock a “hold” rating in a report on Thursday, March 28th. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Barclays increased their price target on Marriott International to $135.00 and gave the company an “equal weight” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Finally, Berenberg Bank restated a “buy” rating and set a $140.00 price target on shares of Marriott International in a report on Tuesday, March 5th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Marriott International currently has a consensus rating of “Hold” and a consensus target price of $135.29.
A number of hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. raised its stake in shares of Marriott International by 5.1% in the fourth quarter. Wedbush Securities Inc. now owns 2,048 shares of the company’s stock worth $222,000 after purchasing an additional 100 shares during the last quarter. Signature Wealth Management Group raised its position in Marriott International by 2.3% during the fourth quarter. Signature Wealth Management Group now owns 4,529 shares of the company’s stock valued at $492,000 after acquiring an additional 101 shares in the last quarter. First Manhattan Co. raised its position in Marriott International by 21.8% during the first quarter. First Manhattan Co. now owns 570 shares of the company’s stock valued at $71,000 after acquiring an additional 102 shares in the last quarter. Lee Financial Group Hawaii Inc. raised its position in Marriott International by 0.4% during the fourth quarter. Lee Financial Group Hawaii Inc. now owns 24,301 shares of the company’s stock valued at $2,638,000 after acquiring an additional 104 shares in the last quarter. Finally, Private Trust Co. NA raised its position in Marriott International by 3.3% during the first quarter. Private Trust Co. NA now owns 3,581 shares of the company’s stock valued at $447,000 after acquiring an additional 116 shares in the last quarter. 66.83% of the stock is currently owned by institutional investors.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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