JPMorgan Chase & Co. Acquires 168,358 Shares of Huazhu Group Ltd (HTHT)
JPMorgan Chase & Co. lifted its holdings in shares of Huazhu Group Ltd (NASDAQ:HTHT) by 173.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,368 shares of the company’s stock after buying an additional 168,358 shares during the quarter. JPMorgan Chase & Co.’s holdings in Huazhu Group were worth $8,571,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Huazhu Group during the 2nd quarter valued at approximately $207,000. Marietta Investment Partners LLC purchased a new stake in shares of Huazhu Group during the 2nd quarter valued at approximately $218,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Huazhu Group during the 2nd quarter valued at approximately $225,000. PNC Financial Services Group Inc. lifted its stake in shares of Huazhu Group by 260.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,791 shares of the company’s stock valued at $242,000 after buying an additional 4,186 shares in the last quarter. Finally, Natixis lifted its stake in shares of Huazhu Group by 187.4% during the 2nd quarter. Natixis now owns 5,888 shares of the company’s stock valued at $247,000 after buying an additional 3,839 shares in the last quarter. Institutional investors own 43.29% of the company’s stock.
NASDAQ HTHT opened at $31.96 on Thursday. Huazhu Group Ltd has a 1 year low of $24.90 and a 1 year high of $49.60. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.33 and a current ratio of 1.34. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 49.17 and a beta of 1.73.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a $0.34 dividend. This is a boost from Huazhu Group’s previous quarterly dividend of $0.16. This represents a $1.36 annualized dividend and a yield of 4.26%.
A number of analysts recently commented on HTHT shares. ValuEngine upgraded shares of Huazhu Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Zacks Investment Research upgraded shares of Huazhu Group from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday, November 21st. Goldman Sachs Group upgraded shares of Huazhu Group from a “neutral” rating to a “buy” rating in a research note on Monday, September 24th. Citigroup initiated coverage on shares of Huazhu Group in a research note on Tuesday. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Deutsche Bank cut shares of Huazhu Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $25.00 in a research note on Monday, September 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.16.
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About Huazhu Group
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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