Power Corp of Canada bought a new position in shares of Huazhu Group Ltd (NASDAQ:HTHT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,000 shares of the company’s stock, valued at approximately $1,324,000. Huazhu Group comprises approximately 17.4% of Power Corp of Canada’s investment portfolio, making the stock its 3rd largest holding.
Several other institutional investors have also modified their holdings of the stock. Reliance Trust Co. of Delaware purchased a new position in shares of Huazhu Group during the third quarter worth $228,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Huazhu Group by 35.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 17,219 shares of the company’s stock worth $556,000 after purchasing an additional 4,460 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Huazhu Group during the third quarter worth $329,000. Aperio Group LLC raised its holdings in shares of Huazhu Group by 45.4% during the third quarter. Aperio Group LLC now owns 48,352 shares of the company’s stock worth $1,562,000 after purchasing an additional 15,100 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Huazhu Group by 98.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 72,283 shares of the company’s stock worth $2,335,000 after purchasing an additional 35,773 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on HTHT. JPMorgan Chase & Co. reduced their target price on shares of Huazhu Group from $53.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Zacks Investment Research cut shares of Huazhu Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. ValuEngine cut shares of Huazhu Group from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Goldman Sachs Group raised shares of Huazhu Group from a “neutral” rating to a “buy” rating in a report on Monday, September 24th. Finally, Deutsche Bank cut shares of Huazhu Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $25.00 in a report on Monday, September 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.54.
HTHT stock opened at $28.53 on Tuesday. The firm has a market cap of $8.67 billion, a P/E ratio of 43.89 and a beta of 1.75. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.19. Huazhu Group Ltd has a one year low of $24.90 and a one year high of $49.60.
Huazhu Group (NASDAQ:HTHT) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The company had revenue of $381.03 million for the quarter. Huazhu Group had a net margin of 12.58% and a return on equity of 23.00%. Research analysts predict that Huazhu Group Ltd will post 0.74 earnings per share for the current year.
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Huazhu Group Company Profile
Huazhu Group Limited, together with its subsidiaries, develops and operates leased and owned, manachised, and franchised hotels primarily in the People's Republic of China. The company operates hotels under the Hi Inn, HanTing Hotel, Elan Hotel, Orange Hotel, HanTing Premium, Starway Hotel, JI Hotel, Orange Hotel Select, Manxin Hotel, Crystal Orange Hotel, Joya Hotel, Grand Mercure, Novotel, Mercure, Ibis Styles, and Ibis brand names for business and leisure travelers.
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