Longboard Asset Management LP Invests $202,000 in Marriott International, Inc. (NASDAQ:MAR)

Longboard Asset Management LP bought a new position in shares of Marriott International, Inc. (NASDAQ:MAR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 723 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds also recently made changes to their positions in the business. Patron Partners LLC increased its holdings in shares of Marriott International by 2.7% during the fourth quarter. Patron Partners LLC now owns 3,657 shares of the company’s stock worth $1,020,000 after purchasing an additional 95 shares during the period. Optas LLC bought a new position in shares of Marriott International during the fourth quarter worth approximately $305,000. Financial Life Planners bought a new position in shares of Marriott International during the fourth quarter worth approximately $52,000. Catalina Capital Group LLC increased its holdings in shares of Marriott International by 9.8% during the fourth quarter. Catalina Capital Group LLC now owns 949 shares of the company’s stock worth $265,000 after purchasing an additional 85 shares during the period. Finally, Abner Herrman & Brock LLC increased its stake in Marriott International by 0.5% in the fourth quarter. Abner Herrman & Brock LLC now owns 73,448 shares of the company’s stock valued at $20,488,000 after acquiring an additional 350 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Up 0.1 %

MAR stock opened at $290.75 on Wednesday. The firm has a market cap of $80.80 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 4.68 and a beta of 1.57. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $295.45. The company’s fifty day simple moving average is $283.11 and its 200 day simple moving average is $259.42.

Marriott International (NASDAQ:MAR) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. Marriott International’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.11 EPS. Research analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.87%. Marriott International’s payout ratio is 26.36%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MAR shares. The Goldman Sachs Group lifted their price objective on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird lifted their price objective on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Mizuho lifted their price objective on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. 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 research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their target price on shares of Marriott International from $262.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $276.35.

Insider Activity at Marriott International

In other news, CFO Kathleen K. Oberg sold 2,360 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the transaction, the chief financial officer now owns 39,726 shares in the company, valued at approximately $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the transaction, the chief accounting officer now owns 5,609 shares in the company, valued at $1,550,776.32. This represents a 14.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,315 shares of company stock worth $3,782,494 over the last quarter. Company insiders own 10.07% of the company’s stock.

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.