Peregrine Capital Management LLC lifted its stake in Extended Stay America (NYSE:STAY) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,521,329 shares of the company’s stock after acquiring an additional 209,053 shares during the quarter. Peregrine Capital Management LLC owned 0.83% of Extended Stay America worth $17,024,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of STAY. First Trust Advisors LP increased its position in shares of Extended Stay America by 50.2% in the 1st quarter. First Trust Advisors LP now owns 166,761 shares of the company’s stock valued at $2,993,000 after purchasing an additional 55,726 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Extended Stay America in the 4th quarter valued at approximately $340,000. Advisors Asset Management Inc. purchased a new stake in shares of Extended Stay America in the 4th quarter valued at approximately $44,000. AXA purchased a new position in shares of Extended Stay America in the 4th quarter valued at $281,000. Finally, Alliancebernstein L.P. grew its position in shares of Extended Stay America by 1,467.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,418,857 shares of the company’s stock valued at $21,084,000 after buying an additional 1,328,347 shares during the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Shares of STAY stock traded down $0.20 during mid-day trading on Friday, hitting $11.41. The stock had a trading volume of 1,013,517 shares, compared to its average volume of 2,873,035. Extended Stay America has a fifty-two week low of $5.35 and a fifty-two week high of $16.90. The company’s 50-day simple moving average is $11.33 and its 200-day simple moving average is $10.93.

Extended Stay America (NYSE:STAY) last released its earnings results on Wednesday, May 6th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The firm had revenue of $266.30 million during the quarter, compared to analyst estimates of $252.16 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue was down 4.1% on a year-over-year basis.

In related news, Director Richard F. Wallman purchased 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $10.81 per share, for a total transaction of $216,200.00. Following the acquisition, the director now directly owns 140,806 shares of the company’s stock, valued at approximately $1,522,112.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin A. Henry sold 8,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.93, for a total transaction of $92,905.00. Following the completion of the transaction, the insider now owns 125,236 shares of the company’s stock, valued at approximately $1,368,829.48. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

A number of research firms recently commented on STAY. Citigroup dropped their target price on shares of Extended Stay America from $15.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Zacks Investment Research downgraded shares of Extended Stay America from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Thursday, May 28th. Jefferies Financial Group raised shares of Extended Stay America from a “hold” rating to a “buy” rating and increased their target price for the company from $7.00 to $14.00 in a research report on Wednesday, April 22nd. Morgan Stanley increased their target price on shares of Extended Stay America from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $16.00 target price on shares of Extended Stay America in a research report on Friday, May 8th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Extended Stay America currently has a consensus rating of “Hold” and an average target price of $13.90.

Extended Stay America Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

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Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

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