Lee Felitia, the Controller and Chief Accounting Officer of Marriott International Inc. (NASDAQ:MAR), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Felitia sold 916 shares of Marriott's Class A Common Stock on November 7, 2024, at an average price of $276.48 per share, amounting to approximately $253,255.
Following this transaction, Felitia holds 5,608.564 shares of Marriott's Class A Common Stock directly. Additionally, she retains 5,830 restricted stock units. This move is part of the regular trading activities of company insiders, providing insight into the executive's current stock position within Marriott.
In other recent news, Marriott International has been the focus of several analyst reviews. TD Cowen maintained its Buy rating on Marriott but reduced the stock's price target from $295.00 to $283.00, reflecting adjustments to the company's third-quarter performance and future expectations. The firm also slightly decreased its 2024 EBITDA estimate by 1% due to higher General and Administrative (G&A) expenses and lower fees. Despite these changes, the analyst's outlook for 2025 remains optimistic, expecting an increase in the number of units by approximately 4-5%.
BMO Capital Markets updated its outlook on Marriott, increasing the hotel giant's price target from $255.00 to $265.00, maintaining a Market Perform rating. The firm highlighted Marriott's recently announced cost-savings initiatives aimed at 2025. Mizuho (NYSE:MFG) Securities adjusted its outlook on Marriott, increasing the price target to $246.00 from the previous $233.00, maintaining a Neutral rating on the stock.
Baird, a financial services firm, updated its evaluation of Marriott shares, raising the price target from $258.00 to $264.00. The firm maintained a Neutral rating on the stock. Goldman Sachs (NYSE:GS) updated its outlook on Marriott, increasing the hotel chain's price target from $267.00 to $280.00, maintaining a Buy rating on the shares.
Marriott's third-quarter results showed a nearly 6% year-over-year increase in net rooms and a 3% rise in global revenue per available room. The company also launched a new mid-scale brand, City Express by Marriott, and reported a record 219 million members in its loyalty program. Despite challenges in Greater China and flat leisure demand, Marriott has implemented cost-saving initiatives and anticipates restructuring charges in the fourth quarter. These are the recent developments in the company's financial landscape.
InvestingPro Insights
While Lee Felitia's recent stock sale provides a glimpse into insider activity, a broader look at Marriott International's financial metrics offers additional context for investors. According to InvestingPro data, Marriott boasts a market capitalization of $77.97 billion, reflecting its significant presence in the hospitality industry. The company's impressive gross profit margin of 81.95% for the last twelve months as of Q3 2024 underscores its operational efficiency, aligning with an InvestingPro Tip highlighting Marriott's "impressive gross profit margins."
Despite the recent insider sale, Marriott's stock has shown strong performance, with a 29.04% price total return over the past three months. This robust return is complemented by another InvestingPro Tip indicating that the stock is "trading near its 52-week high," with the current price at 99.35% of that peak. These metrics suggest continued investor confidence in Marriott's market position and growth prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips on Marriott International, providing deeper insights into the company's financial health and market performance. These tips can be particularly valuable in contextualizing insider transactions and evaluating the stock's potential.
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