Neuberger Berman Group LLC bought a new stake in Wyndham Destinations (NASDAQ:WYND) during the first quarter, HoldingsChannel reports. The fund bought 898,887 shares of the company’s stock, valued at approximately $36,396,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Poehling Capital Management LLC purchased a new stake in Wyndham Destinations in the first quarter valued at approximately $335,000. State of Wisconsin Investment Board purchased a new stake in Wyndham Destinations in the first quarter valued at approximately $891,000. OppenheimerFunds Inc. purchased a new stake in Wyndham Destinations in the first quarter valued at approximately $13,773,000. Northern Trust Corp purchased a new stake in Wyndham Destinations in the first quarter valued at approximately $42,268,000. Finally, First Eagle Investment Management LLC purchased a new stake in Wyndham Destinations in the first quarter valued at approximately $68,653,000.
In other Wyndham Destinations news, Director George Herrera sold 713 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $42.14, for a total value of $30,045.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen P. Holmes sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $43.89, for a total value of $2,194,500.00. The disclosure for this sale can be found here. Insiders sold 105,173 shares of company stock valued at $4,632,661 over the last three months.
A number of equities research analysts recently commented on the company. SunTrust Banks upped their target price on Wyndham Destinations to $72.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Deutsche Bank upped their target price on Wyndham Destinations from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Oppenheimer set a $66.00 target price on Wyndham Destinations and gave the company a “buy” rating in a research report on Tuesday, February 26th. Zacks Investment Research upgraded Wyndham Destinations from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Saturday, May 4th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $50.00 target price on shares of Wyndham Destinations in a research report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $55.85.
Shares of NASDAQ:WYND opened at $42.87 on Friday. Wyndham Destinations has a 12-month low of $33.55 and a 12-month high of $49.31.
Wyndham Destinations (NASDAQ:WYND) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.13. The company had revenue of $918.00 million during the quarter, compared to analyst estimates of $918.92 million. Wyndham Destinations’s revenue was up 1.2% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Thursday, June 13th.
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Wyndham Destinations Company Profile
Wyndham Destinations, Inc engages in the provision of hospitality services and products. It operates through three business segments: Hotel Group, Destination Network, Vacation Ownership, and Corporate and Other. The Hotel Group segment franchises hotels in the upscale, upper midscale, midscale, economy, and extended stay segments; and provides hotel management services for full-service and select limited-service hotels.
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