Alpine Associates Management buys $107.6 Million stake in Starwood Hotels & Resorts Worldwide Inc (HOT)

Starwood Hotels & Resorts Worldwide Inc (HOT) : Alpine Associates Management scooped up 632,875 additional shares in Starwood Hotels & Resorts Worldwide Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,451,875 shares of Starwood Hotels & Resorts Worldwide Inc which is valued at $107.6 Million.Starwood Hotels & Resorts Worldwide Inc makes up approximately 4.73% of Alpine Associates Management’s portfolio.

Other Hedge Funds, Including , Guardian Life Insurance Co Of America reduced its stake in HOT by selling 171 shares or 21.51% in the most recent quarter. The Hedge Fund company now holds 624 shares of HOT which is valued at $46,251. Starwood Hotels & Resorts Worldwide Inc makes up approx 0.01% of Guardian Life Insurance Co Of America’s portfolio.Blackrock Investment Management reduced its stake in HOT by selling 6,008 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 345,394 shares of HOT which is valued at $25.6 Million. Starwood Hotels & Resorts Worldwide Inc makes up approx 0.03% of Blackrock Investment Management’s portfolio.Swiss National Bank boosted its stake in HOT in the latest quarter, The investment management firm added 129,800 additional shares and now holds a total of 438,313 shares of Starwood Hotels & Resorts Worldwide Inc which is valued at $35.7 Million. Starwood Hotels & Resorts Worldwide Inc makes up approx 0.06% of Swiss National Bank’s portfolio. First Mercantile Trust Co sold out all of its stake in HOT during the most recent quarter. The investment firm sold 8,855 shares of HOT which is valued $725,047.

Starwood Hotels & Resorts Worldwide Inc opened for trading at $72.81 and hit $72.95 on the upside on Friday, eventually ending the session at $72.68, with a gain of 0.06% or 0.04 points. The heightened volatility saw the trading volume jump to 16,16,376 shares. Company has a market cap of $12,322 M.

On the company’s financial health, Starwood Hotels & Resorts Worldwide Inc reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.59. The company had revenue of $1404.00 million for the quarter, compared to analysts expectations of $1333.30 million. The company’s revenue was down -.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Starwood Hotels & Resorts Worldwide Inc. Starwood Hotels & Resorts Worldwide Inc was Downgraded by Macquarie to ” Neutral” on May 3, 2016. Starwood Hotels & Resorts Worldwide Inc was Upgraded by Susquehanna to ” Positive” on Apr 4, 2016. Company shares were Reiterated by Canaccord Genuity on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $76 .

Starwood Hotels & Resorts Worldwide Inc. is a hotel and leisure company. The Company’s hotel business is focused on the global operation of hotels and resorts primarily in the luxury and upper upscale segments of the lodging industry. The Company owns Starwood Vacation Ownership Inc. a provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. It manages and operates its hotel business in three hotel segments: the Americas Europe Africa and the Middle East (EAME) and Asia Pacific. Its vacation ownership and residential business is a separate segment. As of December 31 2014 the Company’s hotel business included 1207 owned managed or franchised hotels with approximately 346600 rooms comprising 36 hotels that it owns or leases or in which the Company has a majority equity interest 583 hotels managed by the Company on behalf of third-party owners and 588 hotels for which it receives franchise fees.

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