Pictet Asset Management Ltd. reduced its position in Huazhu Group Ltd (NASDAQ:HTHT) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,900 shares of the company’s stock after selling 6,000 shares during the quarter. Pictet Asset Management Ltd. owned about 0.06% of Huazhu Group worth $6,270,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of HTHT. Invesco Ltd. lifted its holdings in shares of Huazhu Group by 14,330.1% during the 2nd quarter. Invesco Ltd. now owns 34,310,564 shares of the company’s stock worth $1,243,757,000 after acquiring an additional 34,072,793 shares during the period. Bank of Montreal Can lifted its stake in Huazhu Group by 158.1% during the second quarter. Bank of Montreal Can now owns 3,111,438 shares of the company’s stock worth $112,789,000 after purchasing an additional 1,905,768 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Huazhu Group by 3,606.3% during the second quarter. Harvest Fund Management Co. Ltd now owns 1,689,327 shares of the company’s stock worth $61,238,000 after purchasing an additional 1,643,747 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Huazhu Group by 19.2% during the second quarter. JPMorgan Chase & Co. now owns 8,861,604 shares of the company’s stock worth $319,816,000 after purchasing an additional 1,428,870 shares during the last quarter. Finally, Generation Investment Management LLP acquired a new stake in shares of Huazhu Group in the 3rd quarter valued at $27,722,000. Institutional investors own 49.30% of the company’s stock.
Several equities analysts have recently issued reports on HTHT shares. BidaskClub lowered Huazhu Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Bank of America dropped their price objective on Huazhu Group from $42.20 to $38.50 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Zacks Investment Research lowered Huazhu Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $35.00 target price (down previously from $40.00) on shares of Huazhu Group in a research report on Thursday, August 22nd. Finally, Goldman Sachs Group cut Huazhu Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $40.00 in a research report on Friday, September 13th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.92.
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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