November 23, 2016 - By Hazel Jackson
Extended Stay America Inc’s insider Centerbridge Credit Partners – L.P. lately unloaded 4,675,000 company shares worth $69,003,000 at an average cost of $14.8. More details about the sale dated November 22, 2016, could be found obtainable online in a legally required form on the SEC website here. The probability of this transaction staying unseen is little due to its volume, with the insider right now owning 53,009 shares – that is 10%+ of the stock market cap of Extended Stay America Inc.
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. The rating was maintained by Deutsche Bank with “Buy” on Friday, July 31. The company was maintained on Wednesday, October 28 by Deutsche Bank. The firm has “Underperform” rating given on Tuesday, July 21 by Bank of America. The company was downgraded on Thursday, January 14 by M Partners. Citigroup maintained Extended Stay America Inc (NYSE:STAY) rating on Wednesday, August 17. Citigroup has “Neutral” rating and $15 price target. The stock of Extended Stay America Inc (NYSE:STAY) has “Outperform” rating given on Monday, August 3 by Robert W. Baird. Goldman Sachs initiated the shares of STAY in a report on Monday, September 26 with “Neutral” rating.
Insitutional Activity: The institutional sentiment decreased to 1.22 in Q2 2016. Its down 0.44, from 1.66 in 2016Q1. The ratio is negative, 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.
Barclays Public Ltd Company, a United Kingdom-based fund reported 9,263 shares. Art Lc owns 36,524 shares or 0.03% of their US portfolio. Envestnet Asset Mngmt holds 0% or 18,364 shares in its portfolio. Ubs Oconnor Limited Co, a Illinois-based fund reported 254,979 shares. Us Commercial Bank De has invested 0% of its portfolio in Extended Stay America Inc (NYSE:STAY). Alpine Woods Capital Invsts Limited last reported 0.08% of its portfolio in the stock. Great West Life Assurance Can last reported 9,259 shares in the company. Forum Secs Limited accumulated 1.62% or 36,307 shares. Wells Fargo And Mn reported 1.40 million shares or 0.01% of all its holdings. Highland Mngmt Ltd Co last reported 23,171 shares in the company. Moreover, Echo Street Ltd Liability has 0.77% invested in Extended Stay America Inc (NYSE:STAY) for 1.23M shares. Cubist Systematic Strategies Lc owns 11,794 shares or 0.01% of their US portfolio. Croft accumulated 15,000 shares or 0.05% of the stock. Legal And General Public Lc last reported 0% of its portfolio in the stock. Great Lakes Advsr Limited Liability Company holds 0.1% or 247,547 shares in its portfolio.
Insider Transactions: Since October 4, 2016, the stock had 1 buy, and 5 sales for $349.56 million net activity. 4.68 million Extended Stay America Inc (NYSE:STAY) shares with value of $69.00 million were sold by Blackstone Real Estate Partners VI.A-ESH L.P.. $138,300 worth of Extended Stay America Inc (NYSE:STAY) was bought by Halkyard Jonathan S. 4.98 million shares were sold by Blackstone Real Estate Associates VI-ESH L.P., worth $70.56M. 4.98M shares with value of $70.56 million were sold by PAULSON & CO. INC. 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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