Weiss Asset Management LP Invests $10.85 Million in Marriott International, Inc. (NASDAQ:MAR)

Weiss Asset Management LP bought a new stake in Marriott International, Inc. (NASDAQ:MAR) in the third quarter, Holdings Channel reports. The institutional investor bought 43,626 shares of the company’s stock, valued at approximately $10,845,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MAR. Larson Financial Group LLC boosted its position in Marriott International by 10.8% in the third quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock valued at $94,000 after buying an additional 37 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Marriott International by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company’s stock worth $2,162,000 after acquiring an additional 38 shares during the last quarter. Haverford Trust Co increased its holdings in Marriott International by 1.0% during the 3rd quarter. Haverford Trust Co now owns 4,207 shares of the company’s stock valued at $1,046,000 after purchasing an additional 40 shares in the last quarter. Rockland Trust Co. boosted its stake in Marriott International by 2.3% in the second quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock worth $436,000 after purchasing an additional 41 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Marriott International by 1.4% during the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MAR shares. UBS Group lowered their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. BMO Capital Markets upped their price objective on Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group began coverage on Marriott International in a research report on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price for the company. Sanford C. Bernstein lifted their price target on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Mizuho lifted their target price on shares of Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $261.35.

Marriott International Price Performance

NASDAQ:MAR opened at $292.48 on Friday. The firm’s fifty day moving average price is $270.06 and its two-hundred day moving average price is $246.49. The company has a market cap of $81.28 billion, a P/E ratio of 30.59, a P/E/G ratio of 5.61 and a beta of 1.58. Marriott International, Inc. has a one year low of $204.30 and a one year high of $294.65.

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

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 21st. Marriott International’s payout ratio is presently 26.36%.

Insiders Place Their Bets

In related news, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the sale, the chief accounting officer now directly owns 5,609 shares in the company, valued at $1,550,776.32. This trade represents a 14.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Brown sold 1,707 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the completion of the sale, the insider now owns 23,077 shares of the company’s stock, valued at $6,560,791.10. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,815 shares of company stock worth $3,919,739 over the last three months. Insiders own 12.32% of the company’s stock.

Marriott International 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.