Advisory Services Network LLC Lowers Position in Extended Stay America (NYSE:STAY)

Advisory Services Network LLC reduced its stake in shares of Extended Stay America (NYSE:STAY) by 31.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,625 shares of the company’s stock after selling 750 shares during the period. Advisory Services Network LLC’s holdings in Extended Stay America were worth $29,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clear Harbor Asset Management LLC purchased a new position in Extended Stay America in the first quarter valued at approximately $1,046,000. Dimensional Fund Advisors LP lifted its stake in Extended Stay America by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,513 shares of the company’s stock valued at $43,952,000 after purchasing an additional 216,776 shares during the last quarter. American Century Companies Inc. purchased a new position in Extended Stay America in the fourth quarter valued at approximately $628,000. First Manhattan Co. lifted its stake in Extended Stay America by 13.2% in the first quarter. First Manhattan Co. now owns 813,468 shares of the company’s stock valued at $14,601,000 after purchasing an additional 94,800 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Extended Stay America by 1.5% in the fourth quarter. Northern Trust Corp now owns 909,092 shares of the company’s stock valued at $14,090,000 after purchasing an additional 13,141 shares during the last quarter. 96.67% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on STAY shares. Zacks Investment Research downgraded Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. Jefferies Financial Group restated a “buy” rating on shares of Extended Stay America in a research report on Tuesday, July 2nd. Finally, Deutsche Bank set a $22.00 target price on Extended Stay America and gave the stock a “buy” rating in a research report on Sunday, July 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.36.

Shares of Extended Stay America stock traded down $0.35 during trading on Friday, hitting $16.03. The stock had a trading volume of 1,897,077 shares, compared to its average volume of 1,724,072. Extended Stay America has a 12 month low of $14.77 and a 12 month high of $22.37. The company’s 50-day moving average price is $16.90.

Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $277.67 million during the quarter, compared to the consensus estimate of $273.58 million. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS.

Extended Stay America Company 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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