Michele Allen, CFO and Head of Strategy at Wyndham Hotels & Resorts, Inc. (NYSE:WH), recently executed a series of transactions involving the company's common stock. On December 17, Allen exercised non-qualified stock options, acquiring 16,371 shares at a price of $53.40 each. Following this acquisition, she sold a total of 16,371 shares in multiple transactions, with prices ranging from $103.57 to $104.23 per share. The total value of these sales amounted to approximately $1.7 million.
After these transactions, Allen's direct ownership in Wyndham Hotels stands at 10,056 shares. Additionally, she holds 68,150 restricted stock units and 55.09 shares indirectly through her spouse. The transactions were conducted under a pre-established Rule 10b5-1 trading plan.
In other recent news, Wyndham Hotels & Resorts has demonstrated strong financial performance, according to recent reports. The hotel chain reported a successful third quarter in 2024, with a 7% increase in adjusted EBITDA and a 10% rise in adjusted EPS. The company expanded its room system by 4%, opened over 17,000 rooms, and saw a 40 basis point improvement in franchisee retention.
Analysts from Oppenheimer have increased the price target for Wyndham Hotels shares to $115 from the previous $90, maintaining an Outperform rating on the stock. They anticipate revenue gains from several factors, including room growth of 3-5% and a RevPAR increase of 2-3%. The firm has also increased its forecast for Wyndham's fiscal year 2025 EBITDA to $737 million, up from the previous estimate of $726 million.
As part of future developments, Wyndham is set to introduce its Microtel brand in India with a plan to add 40 new hotels by 2031. The company's Project ECHO has been allocated $100 million, with capital deployment expected to increase in 2025 and 2026. These recent developments underscore Wyndham's optimistic outlook and commitment to shareholder and franchisee value.
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