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Wolf Kinsey, the Senior Vice President, Controller, and Chief Accounting Officer at Hyatt Hotels Corp (NYSE:H), recently sold 1,000 shares of the company’s Class A common stock. The shares were sold at a price of $122.95 each on March 19, totaling $122,950. The transaction comes as Hyatt trades near its 52-week low of $119.30, with the stock down approximately 20% year-to-date. According to InvestingPro analysis, the stock is currently fairly valued. Following this transaction, Kinsey holds 810.509 shares directly.
In a separate transaction dated March 18, Kinsey acquired 818 Restricted Stock Units (RSUs) at no cost. These RSUs are part of the company’s Long-Term Incentive Plan and will vest in four annual installments starting in March 2026. Upon vesting, the RSUs will be converted into shares of Class A common stock. InvestingPro data shows Hyatt maintains a moderate debt level and has achieved strong returns over the past five years, with 12 additional exclusive insights available to subscribers.
In other recent news, Hyatt Hotels Corporation is advancing with its acquisition of Playa Hotels & Resorts N.V. for approximately $2.6 billion, which includes around $900 million of net debt. This strategic move is part of Hyatt’s plan to expand its resort portfolio, particularly in the all-inclusive sector. Additionally, Hyatt has repurchased over a million shares of its Class A common stock, spending about $149 million, leaving $822 million under its current repurchase authorization. In corporate governance developments, Hyatt has appointed Tracey T. Travis to its Board of Directors, expanding the board from twelve to thirteen members.
Moreover, Bernstein SocGen Group has maintained an Outperform rating on Hyatt Hotels, with a price target of $173.00, following the introduction of a new brand, Hyatt Select, aimed at the Upper Midscale market in the Americas. This new brand is designed to cater to business and leisure travelers in secondary markets. The travel and hospitality sector, including Hyatt, faced a downturn as airline companies like Delta and American Airlines (NASDAQ:AAL) revised their profit forecasts downward due to decreased consumer spending. Despite these challenges, Hyatt’s strategic initiatives, such as the Playa acquisition and the introduction of Hyatt Select, reflect its focus on expanding its brand footprint and capturing new market segments.
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