Bank of Nova Scotia Has $85.27 Million Position in Hyatt Hotels Corporation $H

Bank of Nova Scotia trimmed its stake in shares of Hyatt Hotels Corporation (NYSE:H) by 63.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,997 shares of the company’s stock after selling 1,012,246 shares during the quarter. Bank of Nova Scotia owned approximately 0.63% of Hyatt Hotels worth $85,267,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Veritas Asset Management LLP grew its stake in shares of Hyatt Hotels by 827.9% during the fourth quarter. Veritas Asset Management LLP now owns 1,900,417 shares of the company’s stock worth $304,675,000 after buying an additional 1,695,616 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Hyatt Hotels by 48.0% during the 4th quarter. Wellington Management Group LLP now owns 4,676,116 shares of the company’s stock valued at $749,675,000 after acquiring an additional 1,516,554 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Hyatt Hotels by 84.5% during the 2nd quarter. Bank of America Corp DE now owns 1,228,396 shares of the company’s stock valued at $171,545,000 after acquiring an additional 562,611 shares in the last quarter. Par Capital Management Inc. grew its position in Hyatt Hotels by 551.8% during the 2nd quarter. Par Capital Management Inc. now owns 371,261 shares of the company’s stock worth $51,847,000 after acquiring an additional 314,300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Hyatt Hotels by 342.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 383,707 shares of the company’s stock worth $61,517,000 after purchasing an additional 296,931 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Sanford C. Bernstein lifted their price target on Hyatt Hotels from $186.00 to $202.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. HSBC upgraded shares of Hyatt Hotels from a “hold” rating to a “buy” rating and set a $212.00 price objective for the company in a report on Thursday, June 4th. Barclays lifted their target price on shares of Hyatt Hotels from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Hyatt Hotels from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Truist Financial lifted their price target on shares of Hyatt Hotels from $181.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Hyatt Hotels has a consensus rating of “Moderate Buy” and a consensus price target of $198.29.

Insider Activity

In other news, insider Peter Sears sold 10,217 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $185.66, for a total value of $1,896,888.22. Following the transaction, the insider directly owned 6,374 shares of the company’s stock, valued at $1,183,396.84. The trade was a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Udell sold 8,682 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $172.00, for a total value of $1,493,304.00. Following the sale, the insider owned 13,338 shares in the company, valued at approximately $2,294,136. The trade was a 39.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,224 shares of company stock worth $4,173,605 in the last three months. Corporate insiders own 23.60% of the company’s stock.

Hyatt Hotels Stock Performance

Shares of H stock opened at $183.52 on Friday. The stock has a market capitalization of $17.28 billion, a PE ratio of -524.34 and a beta of 1.32. The business’s 50 day simple moving average is $188.89 and its 200 day simple moving average is $169.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.60 and a quick ratio of 0.60. Hyatt Hotels Corporation has a one year low of $133.51 and a one year high of $206.86.

Hyatt Hotels (NYSE:H) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Hyatt Hotels had a negative net margin of 0.48% and a positive return on equity of 6.01%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, research analysts forecast that Hyatt Hotels Corporation will post 3.58 earnings per share for the current year.

About Hyatt Hotels

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.