Inlet Private Wealth LLC cut its stake in Extended Stay America (NYSE:STAY) by 7.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,260 shares of the company’s stock after selling 1,885 shares during the period. Inlet Private Wealth LLC’s holdings in Extended Stay America were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of STAY. Bank of New York Mellon Corp grew its position in shares of Extended Stay America by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 816,713 shares of the company’s stock valued at $12,659,000 after purchasing an additional 10,243 shares in the last quarter. Northern Trust Corp grew its position in Extended Stay America by 1.5% in the fourth quarter. Northern Trust Corp now owns 909,092 shares of the company’s stock worth $14,090,000 after acquiring an additional 13,141 shares during the period. Dimensional Fund Advisors LP grew its position in Extended Stay America by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,513 shares of the company’s stock worth $43,952,000 after acquiring an additional 216,776 shares during the period. Macquarie Group Ltd. grew its position in Extended Stay America by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 168,187 shares of the company’s stock worth $2,607,000 after acquiring an additional 4,373 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Extended Stay America by 7.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 178,607 shares of the company’s stock worth $2,768,000 after acquiring an additional 11,690 shares during the period. Institutional investors and hedge funds own 96.67% of the company’s stock.
STAY has been the subject of several analyst reports. Deutsche Bank set a $22.00 price objective on Extended Stay America and gave the stock a “buy” rating in a research report on Sunday, July 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Extended Stay America in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research lowered Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price objective for the company. in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Extended Stay America has a consensus rating of “Buy” and an average price target of $20.00.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $277.67 million during the quarter, compared to analysts’ expectations of $273.58 million. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share.
About Extended Stay America
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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