Hyatt Hotels Corp (NYSE:H) executive David Udell, who serves as the Executive Vice President, Group President-ASPAC, has recently sold a significant amount of company stock, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place on March 18 and 19, involved the sale of 6,412 shares of Class A common stock, resulting in total proceeds exceeding $1 million.
The sales were executed at prices ranging from $156.08 to $157.00, with the total value of the sold shares amounting to approximately $1,003,914. This weighted average price suggests that the transactions were made through multiple sales within this price range.
In addition to the sales, the SEC filing also shows that Udell acquired shares through the settlement of vested Restricted Stock Units (RSUs). These acquisitions, however, were not part of the monetary transactions and therefore did not contribute to the total transaction value reported.
Investors monitoring insider activity may note that following these transactions, Udell's direct ownership in Hyatt Hotels Corp has decreased, though he still retains a substantial number of shares in the company.
Hyatt Hotels Corp, with its headquarters in Chicago, Illinois, operates as a global hospitality company with a portfolio of hotels and resorts under various brand names. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol H.
The recent filings provide transparency into the trading activities of the company's executives and are a routine part of corporate governance and compliance with SEC regulations.
InvestingPro Insights
Recent market data from InvestingPro reveals several key metrics that may interest investors in Hyatt Hotels Corp (NYSE:H). The company boasts a substantial market capitalization of $15.98 billion, highlighting its significant presence in the hospitality industry. Despite a notable P/E ratio of 74.63, which indicates a premium valuation, the company's gross profit margins stand out impressively at 66.91% for the last twelve months as of Q4 2023. This robust margin underscores Hyatt's ability to maintain profitability in a competitive sector.
Hyatt's stock has been performing strongly in the market, with a 1-month price total return of 17.65% and an even more remarkable 6-month price total return of 48.24%, as of the latest available data. This suggests a strong investor confidence and a bullish trend in the stock's performance. Additionally, with the stock trading near its 52-week high at 97.69% of the peak price, it reflects a sustained positive momentum.
InvestingPro Tips for Hyatt Hotels Corp indicate that analysts are optimistic about the company's prospects, with 6 analysts having revised their earnings upwards for the upcoming period. This consensus could be a testament to the company's operational strengths and strategic initiatives. Moreover, Hyatt operates with a moderate level of debt, which may provide it with the flexibility to navigate the dynamic hospitality landscape.
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