Penserra Capital Management LLC Has $1.89 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Penserra Capital Management LLC trimmed its position in Marriott International, Inc. (NASDAQ:MAR) by 22.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,620 shares of the company’s stock after selling 2,182 shares during the period. Penserra Capital Management LLC’s holdings in Marriott International were worth $1,893,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. BDF Gestion acquired a new position in Marriott International during the second quarter worth $3,013,000. Jensen Investment Management Inc. bought a new stake in shares of Marriott International during the 3rd quarter worth approximately $793,000. CWM LLC boosted its holdings in shares of Marriott International by 518.7% in the 2nd quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after buying an additional 39,839 shares during the last quarter. BayBridge Capital Group LLC acquired a new position in Marriott International during the third quarter worth $1,254,000. Finally, Kinsale Capital Group Inc. bought a new stake in Marriott International during the third quarter worth $3,769,000. 70.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the sale, the chief executive officer now owns 108,361 shares of the company’s stock, valued at $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William P. Brown sold 1,707 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total value of $485,300.10. Following the transaction, the insider now owns 23,077 shares in the company, valued at $6,560,791.10. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,815 shares of company stock valued at $3,919,739. 10.07% of the stock is currently owned by insiders.

Marriott International Trading Up 1.3 %

NASDAQ:MAR opened at $288.00 on Tuesday. The stock’s 50-day moving average is $262.99 and its 200-day moving average is $243.80. The stock has a market cap of $80.03 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 5.59 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $200.94 and a 1-year high of $289.63.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 EPS. As a group, equities analysts forecast that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.88%. Marriott International’s payout ratio is 26.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MAR. Morgan Stanley dropped their target price on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. UBS Group reduced their target price on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Bank of America increased their price target on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. TD Cowen decreased their price objective on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Truist Financial cut their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Marriott International currently has an average rating of “Hold” and a consensus target price of $259.00.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.