Another volatile year for housing,
The stock is related to the market, and one of the CEOs has just purchased a stock catalyst.
Hyatt’s stock (stock symbol: H) is up 26% so far this year, about the same as the rally in the U.S.
S&P 500 Index.
Like its peers, Hyatt shares have weathered nearly two years of the Covid-19 pandemic through closures, partial reopenings, and the emergence of variants, including Delta and Omicron. However, last month JPMorgan upgraded the Hyatt to Overweight from Neutral, raising the target price to $101 from $90.
Alejandro Renal, executive vice president and chief executive officer of the high-end Apple Leisure Group at Hyatt, paid $4 million on December 16 and December 17 for a total of 48,000 shares, with an average share price of $83.47. According to a form he filed with the Securities and Exchange Commission, these shares represent all of Raynal’s holdings of Hyatt Stock.
Hyatt acquired Apple Leisure – Reynal was president and CEO at the time – on November 1. Upon joining the company’s executive committee, Reynal was awarded an award in restricted stock units of up to 1.5 times the number of Hyatt shares purchased at Hyatt, Hyatt said in a statement.
“After his December purchase of 48,000 shares on the open market, Alejandro Renal received a total of 72,000 RSUs acquiring 50% on December 12, 2024 and 50% on December 12, 2025,” Hyatt said.
“The current environment is ripe for Hyatt to improve the value of its owned hotels,” JPMorgan analyst Joseph Grieve wrote in Hyatt Update.
Inside Scoop is a regular Barron feature that covers stock transactions by corporate executives and board members – so-called insiders – as well as major shareholders, politicians and other notable personalities. Because of their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
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