10 Best Travel and Leisure Stocks to Buy Now

5) Marriott International, Inc. (NASDAQ:MAR)

Number of Hedge Fund Holders: 58

Marriott International, Inc. (NASDAQ:MAR) is a worldwide operator, franchisor, and licensor of hotel, residential, timeshare, and other lodging properties under several brand names at different price and service points.

The company released its 1Q 2024 financial results, with reported net income totalling $564 million as compared to reported net income of $757 million in the year-ago quarter. The adjusted EBITDA of the company totalled $1,142 million in 1Q 2024 as compared to 1Q 2023 adjusted EBITDA of $1,098 million. The quarter exhibits the company’s strong revenue-generating capabilities and highlights the period of recovery, primarily in international markets.

Analysts at BMO Capital Markets initiated the coverage on Marriott International, Inc. (NASDAQ:MAR) and increased their price target on the company’s shares from $235.00 to $240.00. The company gave a “Market perform” rating on May 2nd. Apart from this, Susquehanna covered the company’s shares in a report on 21st June. They gave a “neutral” rating, with the price objective of $255.00.

The company plans on expanding global footprint and enhancing its digital engagement via Marriott Bonvoy app, targeted at streamlining customer experience along with fostering loyalty.

By the end of 1Q 2024, 58 hedge funds reported owning stakes in the Marriott International, Inc. (NASDAQ:MAR) as per Insider Monkey’s database.