Intentions Seeker Stocks: Macy’s, Inc. (NYSE:M), Cowen Group, Inc. (NASDAQ:COWN), Diamondrock Hospitality Co. (NYSE:DRH)

April 26, 2023 6:22 am2 commentsViews: 86

Macy’s, Inc. (NYSE:M) swings after it activist investor Starboard Value purchased a stake, declaring the department-store chain’s stock would be worth $125 if it better capitalized on its real estate. Macy’s could separate its properties from operations, unlocking value for investors, Starboard Chief Executive Officer Jeff Smith said on Wednesday at the CNBC Institutional Investor Delivering Alpha Conference in New York. Its real estate is worth $21 billion of the company’s $29 billion enterprise value, according to Starboard’s analysis. “We work continuously to maximize shareholder value and exchange views with a wide variety of shareholders as we do so,” Jim Sluzewski, a spokesman for the retailer, said in an e-mail. Macy’s, Inc. (NYSE:M) has the market capitalization of 24.22 Billion. Shares of firm climbed 7.91% to close at $72.01 with the total traded volume of 24.5 Million. The firm has current ratio of 1.50 for the most recent quarter.

Cowen Group, Inc. (NASDAQ:COWN) and Concept Capital Markets, LLC reported on Wednesday that reaching into a definitive contract for Cowen to acquire Concept Capital, an independent provider of prime brokerage services. Financial terms of the deal were not disclosed. Cowen expects the acquisition to be accretive to earnings in 2015. The deal was approved by the board of directors of both companies, and it is expected to close in the third quarter of 2015. Cowen Group, Inc. (NASDAQ:COWN) begun last trade with a price of $6.45 and throughout the trading session climbed at a high of $6.46. The day-trade ended with -0.62% to $6.40. The stock is going forward to its 52 week low with 81.82% and lagging behind from its 52 week high price with -1.69%. COWN last month stock price volatility remained 2.21%.

Diamondrock Hospitality Co. (NYSE:DRH) released on Wednesday that it recently purchased fee simple interest in the 184-suite Sheraton Suites Key West in Key West, Florida, for $94 million. The buy price represents a 12.8 multiple on anticipated 2015 hotel earnings before interest, taxes, depreciation and amortization of $7.3 million and a 7.1 percent capitalization rate on the hotel’s 2015 forecasted net operating income. DiamondRock is finalizing its plans to reposition and re-launch the hotel as an independent lifestyle resort, leveraging its high quality, superior room size, and beachfront location. Diamondrock Hospitality Co. (NYSE:DRH) stock price closed at $13.70 with the total traded volume of 1.53 Million shares. Its price to sales ratio ended at 3.08. Its market capitalization is 2.75 Billion.


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