Eqis Capital Management Inc. Increases Stock Position in Extended Stay America (NYSE:STAY)

Eqis Capital Management Inc. raised its holdings in Extended Stay America (NYSE:STAY) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,240 shares of the company’s stock after purchasing an additional 1,576 shares during the period. Eqis Capital Management Inc.’s holdings in Extended Stay America were worth $208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BB&T Securities LLC raised its position in shares of Extended Stay America by 1.5% in the third quarter. BB&T Securities LLC now owns 57,559 shares of the company’s stock valued at $848,000 after buying an additional 873 shares during the last quarter. Hilltop Holdings Inc. raised its position in shares of Extended Stay America by 13.1% in the second quarter. Hilltop Holdings Inc. now owns 11,573 shares of the company’s stock valued at $195,000 after buying an additional 1,336 shares during the last quarter. OLD National Bancorp IN raised its position in shares of Extended Stay America by 5.4% in the third quarter. OLD National Bancorp IN now owns 26,641 shares of the company’s stock valued at $390,000 after buying an additional 1,369 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Extended Stay America by 5.4% in the second quarter. Raymond James Trust N.A. now owns 30,949 shares of the company’s stock valued at $523,000 after buying an additional 1,586 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its position in shares of Extended Stay America by 9.2% in the third quarter. Wetherby Asset Management Inc. now owns 19,866 shares of the company’s stock valued at $290,000 after buying an additional 1,681 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors.

Shares of STAY stock opened at $14.82 on Tuesday. Extended Stay America has a one year low of $12.88 and a one year high of $19.73. The company has a 50 day moving average price of $14.50 and a 200 day moving average price of $15.73.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $332.70 million for the quarter, compared to analysts’ expectations of $331.69 million. During the same period last year, the business earned $0.39 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year.

The business also recently declared a dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 19th.

In related news, insider Kevin A. Henry sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $13.86, for a total transaction of $103,950.00. Following the completion of the transaction, the insider now owns 108,683 shares of the company’s stock, valued at $1,506,346.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

STAY has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price objective for the company. in a research report on Monday, August 12th. Morgan Stanley lowered shares of Extended Stay America from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $15.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered shares of Extended Stay America from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $16.50 to $15.00 in a research report on Friday, September 6th. Robert W. Baird set a $19.00 price objective on shares of Extended Stay America and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered shares of Extended Stay America from a “buy” rating to a “hold” rating and cut their price objective for the company from $24.00 to $16.00 in a research report on Thursday, August 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.80.

Extended Stay America Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

Read More: How Do Mutual Funds Work?

Want to see what other hedge funds are holding STAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extended Stay America (NYSE:STAY).

Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.