November 23, 2016 - By Nellie Frank
In a public document which was filled with the Washington-based SEC, it was made public that the insider of Extended Stay America Inc Centerbridge Credit Partners General Partner – L.P., made an open market transaction for 4,675,000 shares of the company, having an approx. value of $69,003,000 USD using an average stock price per share of $14.8 USD. The chance that this deal stays ignored is very low as a result of the large amount of money involved. At the moment, Centerbridge Credit Partners General Partner – L.P. owns 53,009 shares which make up roughly 10%+ of the Company’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding).
Out of 7 analysts covering Extended Stay America (NYSE:STAY), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. $26 is the highest target while $14 is the lowest. The $18.50 average target is 20.05% above today’s ($15.41) stock price. Extended Stay America has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded the shares of STAY in a report on Monday, August 3 to “Outperform” rating. The stock of Extended Stay America Inc (NYSE:STAY) has “Underperform” rating given on Tuesday, July 21 by Bank of America. On Wednesday, October 28 the stock rating was maintained by Deutsche Bank with “Buy”. The rating was initiated by Goldman Sachs with “Neutral” on Monday, September 26. The company was downgraded on Thursday, January 14 by M Partners. Citigroup maintained it with “Neutral” rating and $15 target price in Wednesday, August 17 report. Deutsche Bank maintained it with “Buy” rating and $25 target price in Friday, July 31 report.
Insitutional Activity: The institutional sentiment decreased to 1.22 in 2016 Q2. Its down 0.44, from 1.66 in 2016Q1. The ratio dived, as 14 funds sold all Extended Stay America Inc shares owned while 30 reduced positions. 18 funds bought stakes while 55 increased positions. They now own 197.88 million shares or 0.07% more from 197.73 million shares in 2016Q1.
Ubs Asset Management Americas holds 65,397 shares or 0% of its portfolio. Cipher Limited Partnership holds 0.02% of its portfolio in Extended Stay America Inc (NYSE:STAY) for 21,485 shares. Oberweis Asset Incorporated has 16,200 shares for 0.07% of their US portfolio. Moreover, Blackrock Advsr Ltd Liability Com has 0% invested in Extended Stay America Inc (NYSE:STAY) for 42,631 shares. Chicago Equity Prtnrs Lc holds 0% or 10,120 shares in its portfolio. Wells Fargo And Company Mn owns 1.40 million shares or 0.01% of their US portfolio. Blackrock Inv Mgmt Lc, a New Jersey-based fund reported 35,167 shares. Cohen Steers has invested 0.2% of its portfolio in Extended Stay America Inc (NYSE:STAY). Bb&T Securities Limited Liability Corp accumulated 0.02% or 81,950 shares. Comerica Bancorporation last reported 0.15% of its portfolio in the stock. Credit Agricole S A has 17,300 shares for 0% of their US portfolio. Citigroup last reported 31,113 shares in the company. American Grp owns 2,375 shares or 0% of their US portfolio. Kempen Cap Management Nv has 137,757 shares for 0.24% of their US portfolio. The Sweden-based Nordea Inv Mgmt has invested 0% in Extended Stay America Inc (NYSE:STAY).
Insider Transactions: Since October 4, 2016, the stock had 1 insider purchase, and 5 selling transactions for $349.56 million net activity. 10,000 Extended Stay America Inc (NYSE:STAY) shares with value of $138,300 were bought by Halkyard Jonathan S. 4.98 million shares were sold by Blackstone Real Estate Associates VI-ESH L.P., worth $70.56M. Blackstone Real Estate Partners VI.A-ESH L.P. sold $70.56M worth of stock. PAULSON & CO. INC. sold $70.56 million worth of Extended Stay America Inc (NYSE:STAY) on Tuesday, October 4.
The stock increased 0.46% or $0.07 on November 22, hitting $15.41. About 871,641 shares traded hands. Extended Stay America Inc (NYSE:STAY) has declined 0.90% since April 21, 2016 and is downtrending. It has underperformed by 6.23% the S&P500.
Extended Stay America, Inc. is an integrated owner/operator of company-branded hotels in North America. The company has a market cap of $3.04 billion. The Firm operates in hotel activities segment. It has a 25.85 P/E ratio. The Company’s business operates in the extended stay lodging industry.
According to Zacks Investment Research, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina.”
More recent Extended Stay America Inc (NYSE:STAY) news were published by: Businesswire.com which released: “Extended Stay America Announces Pricing of Secondary Offering and Repurchase ..” on November 15, 2016. Also Prnewswire.com published the news titled: “Extended Stay America Announces Resignation Of Chief Marketing Officer” on September 08, 2016. Businesswire.com‘s news article titled: “Extended Stay America, Inc. Announces Launch of New Credit Facilities” with publication date: August 05, 2016 was also an interesting one.
Extended Stay America, Inc. (Extended Stay), incorporated on July 8, 2013, is an integrated owner/operator of company-branded hotels in North America. The Firm operates in hotel activities segment. The Company’s business operates in the extended stay lodging industry. The Firm owns and operates approximately 630 hotels comprising over 69,400 rooms located in approximately 40 states across the United States and in Canada. It owns and operates its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. In addition, the Company owns and operates over three Extended Stay Canada hotels. The Firm operates its hotels owned by ESH Hospitality, Inc. (ESH REIT). The hotels are operated by the Operating Lessees, subsidiaries of the Company and are managed by ESA Management LLC (ESA Management), a subsidiary of the Company. ESH Strategies, a subsidiary of the Company, owns the brands related to its business.
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By Nellie Frank