CorePoint Lodging Inc (NYSE:CPLG) Short Interest Up 47.9% in June

CorePoint Lodging Inc (NYSE:CPLG) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,196,500 shares, a growth of 47.9% from the May 15th total of 808,800 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average trading volume of 579,600 shares, the short-interest ratio is presently 2.1 days.

Several equities analysts have issued reports on CPLG shares. TheStreet cut shares of CorePoint Lodging from a “c” rating to a “d” rating in a research note on Friday, April 5th. Zacks Investment Research upgraded shares of CorePoint Lodging from a “sell” rating to a “hold” rating in a research note on Monday, March 11th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in CorePoint Lodging by 6.8% in the fourth quarter. Legal & General Group Plc now owns 14,483 shares of the company’s stock worth $177,000 after buying an additional 916 shares during the last quarter. Quantamental Technologies LLC lifted its position in CorePoint Lodging by 29.1% in the first quarter. Quantamental Technologies LLC now owns 4,600 shares of the company’s stock worth $51,000 after buying an additional 1,037 shares during the last quarter. United Services Automobile Association lifted its position in shares of CorePoint Lodging by 15.6% during the fourth quarter. United Services Automobile Association now owns 13,211 shares of the company’s stock worth $162,000 after purchasing an additional 1,781 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its position in shares of CorePoint Lodging by 14.7% during the first quarter. Quantitative Systematic Strategies LLC now owns 15,614 shares of the company’s stock worth $174,000 after purchasing an additional 1,999 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of CorePoint Lodging by 38.4% during the first quarter. BNP Paribas Arbitrage SA now owns 9,600 shares of the company’s stock worth $107,000 after purchasing an additional 2,662 shares during the last quarter. Institutional investors own 92.91% of the company’s stock.

CPLG traded up $0.21 during trading on Friday, reaching $12.41. 4,404 shares of the company traded hands, compared to its average volume of 433,920. CorePoint Lodging has a 12-month low of $10.16 and a 12-month high of $26.81. The business’s fifty day simple moving average is $12.77. The stock has a market capitalization of $709.67 million and a P/E ratio of 5.95.

CorePoint Lodging (NYSE:CPLG) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.16). CorePoint Lodging had a negative net margin of 31.35% and a negative return on equity of 7.22%. The company had revenue of $208.00 million for the quarter, compared to analysts’ expectations of $202.35 million. Sell-side analysts anticipate that CorePoint Lodging will post 1.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Thursday, June 27th. CorePoint Lodging’s dividend payout ratio (DPR) is presently 38.83%.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

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