Marriott International (NASDAQ:MAR) Sets New 12-Month High – Here’s What Happened

Marriott International, Inc. (NASDAQ:MAR)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $302.28 and last traded at $302.11, with a volume of 253506 shares traded. The stock had previously closed at $292.39.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial upped their price objective on Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Sanford C. Bernstein increased their price objective on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their target price on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their price target on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $276.35.

Marriott International Stock Up 0.3 %

The business’s 50 day simple moving average is $283.94 and its 200-day simple moving average is $260.70. The stock has a market capitalization of $84.47 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 4.88 and a beta of 1.57.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares in the company, valued at $6,560,791.10. This represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the sale, the chief executive officer now directly owns 108,361 shares in the company, valued at approximately $30,827,620.89. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,399 shares of company stock valued at $3,529,238 over the last three months. 12.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Marriott International

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jensen Investment Management Inc. acquired a new position in shares of Marriott International in the third quarter valued at approximately $793,000. BayBridge Capital Group LLC bought a new position in shares of Marriott International during the third quarter valued at $1,254,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Marriott International by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after purchasing an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Marriott International during the 3rd quarter worth $2,721,000. Finally, Kinsale Capital Group Inc. acquired a new position in Marriott International during the 3rd quarter worth about $3,769,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Company 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.