La Quinta Holdings Inc. (NYSE:LQ) was the target of a large decline in short interest in October. As of October 13th, there was short interest totalling 1,489,748 shares, a decline of 39.2% from the September 29th total of 2,451,823 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,072,061 shares, the days-to-cover ratio is presently 0.7 days.
Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of La Quinta Holdings by 335.4% in the 3rd quarter. Wells Fargo & Company MN now owns 316,535 shares of the company’s stock worth $5,540,000 after purchasing an additional 243,831 shares during the period. Legal & General Group Plc raised its position in La Quinta Holdings by 30.4% during the 3rd quarter. Legal & General Group Plc now owns 41,668 shares of the company’s stock valued at $730,000 after purchasing an additional 9,721 shares in the last quarter. American International Group Inc. raised its position in La Quinta Holdings by 8.1% during the 3rd quarter. American International Group Inc. now owns 54,716 shares of the company’s stock valued at $958,000 after purchasing an additional 4,091 shares in the last quarter. Iridian Asset Management LLC CT raised its position in La Quinta Holdings by 1,523.0% during the 3rd quarter. Iridian Asset Management LLC CT now owns 4,134,055 shares of the company’s stock valued at $72,346,000 after purchasing an additional 3,879,335 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in La Quinta Holdings during the 3rd quarter valued at $232,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
La Quinta Holdings (NYSE LQ) opened at $16.87 on Friday. The firm has a market capitalization of $1,981.45, a P/E ratio of 46.86, a price-to-earnings-growth ratio of 13.04 and a beta of 1.87. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.40 and a current ratio of 1.40. La Quinta Holdings has a 1-year low of $10.68 and a 1-year high of $18.53.
La Quinta Holdings (NYSE:LQ) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The firm had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $272.52 million. La Quinta Holdings had a net margin of 3.11% and a return on equity of 6.23%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. equities research analysts expect that La Quinta Holdings will post 0.35 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. Zacks Investment Research upgraded La Quinta Holdings from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, October 11th. UBS AG upgraded La Quinta Holdings from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Wells Fargo & Company raised La Quinta Holdings from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, October 6th. TheStreet cut La Quinta Holdings from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Finally, BidaskClub raised La Quinta Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. La Quinta Holdings presently has a consensus rating of “Hold” and an average target price of $17.81.
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About La Quinta Holdings
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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