Oppenheimer Asset Management Inc. lessened its stake in Extended Stay America (NYSE:STAY) by 16.6% in the third quarter, Holdings Channel reports. The institutional investor owned 139,033 shares of the company’s stock after selling 27,586 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Extended Stay America were worth $2,813,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in STAY. Schroder Investment Management Group increased its stake in Extended Stay America by 998.7% during the second quarter. Schroder Investment Management Group now owns 3,052,990 shares of the company’s stock valued at $65,609,000 after purchasing an additional 2,775,117 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Extended Stay America during the third quarter valued at $31,942,000. Jennison Associates LLC bought a new stake in Extended Stay America during the second quarter valued at $22,283,000. Long Pond Capital LP bought a new stake in Extended Stay America during the second quarter valued at $18,840,000. Finally, Brown Advisory Inc. grew its position in shares of Extended Stay America by 43.0% during the second quarter. Brown Advisory Inc. now owns 2,563,073 shares of the company’s stock worth $55,389,000 after acquiring an additional 770,822 shares during the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.
Several equities analysts have recently commented on the stock. Stifel Nicolaus restated a “buy” rating and set a $22.50 price target on shares of Extended Stay America in a research report on Thursday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Extended Stay America from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research lowered shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Bank of America lowered shares of Extended Stay America from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Extended Stay America presently has an average rating of “Buy” and a consensus price target of $22.95.
Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $351.10 million during the quarter, compared to analyst estimates of $344.17 million. Extended Stay America had a net margin of 5.47% and a return on equity of 15.18%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities research analysts predict that Extended Stay America will post 1.15 EPS for the current year.
Extended Stay America 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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