November 23, 2016 - By Vivian Park
As shown in a legal document that was filled with the SEC on 22/11/2016, Paulson & Co. Inc. an insider in Extended Stay America Inc, made a sale of shares worth $69,003,000 U.S Dollars in the Pinksheet-listed Extended Stay America Inc. Paulson & Co. Inc. disposed 4,675,000 new shares, at average $14.8 per share. The massive trade is sure to get speculators talking for the company. Paulson & Co. Inc. now has ownership of 33.00 million shares 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. On Friday, July 31 the stock rating was maintained by Deutsche Bank with “Buy”. Citigroup maintained it with “Neutral” rating and $15 target price in Wednesday, August 17 report. M Partners downgraded Extended Stay America Inc (NYSE:STAY) on Thursday, January 14 to “Neutral” rating. The stock has “Outperform” rating given by Robert W. Baird on Monday, August 3. The stock of Extended Stay America Inc (NYSE:STAY) earned “Neutral” rating by Goldman Sachs on Monday, September 26. The firm earned “Buy” rating on Wednesday, October 28 by Deutsche Bank. The rating was downgraded by Bank of America to “Underperform” on Tuesday, July 21.
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.
Pioneer Inv Management holds 191,100 shares or 0.01% of its portfolio. Cornerstone Capital Mgmt Ltd Limited Liability Company holds 20,844 shares or 0% of its portfolio. The New York-based Scopus Asset Management L P has invested 0.07% in Extended Stay America Inc (NYSE:STAY). Chicago Equity Ptnrs Ltd has 10,120 shares for 0% of their US portfolio. The Illinois-based Northern Tru Corporation has invested 0% in Extended Stay America Inc (NYSE:STAY). Utah Retirement, a Utah-based fund reported 13,400 shares. Nordea Inv Management holds 0% of its portfolio in Extended Stay America Inc (NYSE:STAY) for 100,176 shares. Guggenheim Cap Lc last reported 0% of its portfolio in the stock. Fmr Llc holds 9.81 million shares or 0.02% of its portfolio. Kanaly Com accumulated 292 shares or 0% of the stock. Envestnet Asset Management Inc owns 18,364 shares or 0% of their US portfolio. State Of Wisconsin Board holds 0.02% or 377,940 shares in its portfolio. Goldentree Asset Lp, a New York-based fund reported 1.13M shares. Ci Glob Invs Inc has 3.3% invested in the company for 8.05M shares. Price T Rowe Assocs Inc Md holds 0% of its portfolio in Extended Stay America Inc (NYSE:STAY) for 291,823 shares.
Insider Transactions: Since October 4, 2016, the stock had 1 buying transaction, and 5 insider sales for $349.56 million net activity. On Friday, November 18 Blackstone Real Estate Associates VI-ESH L.P. sold $69.00M worth of the stock or 4.68 million shares. $69.00M worth of Extended Stay America Inc (NYSE:STAY) shares were sold by Blackstone Real Estate Partners VI.A-ESH L.P. Shares for $138,300 were bought by Halkyard Jonathan S. PAULSON & CO. INC. sold $70.56M worth of stock.
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 news for Extended Stay America Inc (NYSE:STAY) were recently published by: Businesswire.com, which released: “Extended Stay America Announces Pricing of Secondary Offering and Repurchase ..” on November 15, 2016. Prnewswire.com‘s article titled: “Extended Stay America Announces Resignation Of Chief Marketing Officer” and published on September 08, 2016 is yet another important article.
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 Vivian Park