State Treasurer State of Michigan bought a new stake in shares of Wyndham Destinations (NASDAQ:WYND) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 35,937 shares of the company’s stock, valued at approximately $1,591,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Canada Pension Plan Investment Board bought a new stake in Wyndham Destinations during the 2nd quarter valued at approximately $31,559,000. Quantitative Systematic Strategies LLC purchased a new position in Wyndham Destinations during the 2nd quarter valued at approximately $424,000. Trexquant Investment LP purchased a new position in Wyndham Destinations during the 2nd quarter valued at approximately $884,000. Arizona State Retirement System purchased a new position in Wyndham Destinations during the 2nd quarter valued at approximately $4,256,000. Finally, Convergence Investment Partners LLC purchased a new position in Wyndham Destinations during the 2nd quarter valued at approximately $710,000.
Several equities analysts have weighed in on WYND shares. TheStreet cut Wyndham Destinations from a “b” rating to a “c” rating in a report on Monday, June 4th. Stifel Nicolaus cut their price target on Wyndham Destinations from $131.00 to $60.00 and set a “buy” rating for the company in a report on Monday, June 4th. Oppenheimer cut their price target on Wyndham Destinations from $135.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, June 4th. Wolfe Research started coverage on Wyndham Destinations in a report on Friday, June 1st. They set a “market perform” rating for the company. Finally, Jefferies Financial Group started coverage on Wyndham Destinations in a report on Monday, July 16th. They set a “buy” rating and a $65.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Wyndham Destinations currently has a consensus rating of “Buy” and a consensus price target of $58.71.
NASDAQ WYND opened at $45.19 on Tuesday. Wyndham Destinations has a 1-year low of $43.06 and a 1-year high of $57.67.
Wyndham Destinations (NASDAQ:WYND) last released its quarterly earnings results on Wednesday, August 8th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, September 13th.
In other news, Director George Herrera sold 747 shares of Wyndham Destinations stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $44.61, for a total value of $33,323.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Wyndham Destinations Profile
Wyndham Destinations, Inc engages in the provision of hospitality services and products. It operates through three business segments: Hotel Group, Destination Network, Vacation Ownership, and Corporate and Other. The Hotel Group segment franchises hotels in the upscale, upper midscale, midscale, economy, and extended stay segments; and provides hotel management services for full-service and select limited-service hotels.
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