Lawrence Kellner, Director at Marriott International Inc. (NASDAQ:MAR), disposed of 14,599 shares of Class A Common Stock on Friday. The sale was executed directly for a weighted average price of $64.53 per share and after the insider’s first disposition of the fiscal year he now owns a total of 2,000 company shares.
Stock sales have been common at the $19 billion market cap hotel operator this quarter. The firm’s President and Chief Executive Operator, Arne Sorenson, unloaded 150,00 shares of Common Stock at the beginning of July for $65.00 per share. And in June, W J Marriott Jr., Chairman of the Board, unloaded 100,000 shares of Common Stock for $63.65 per share.
Furthermore, last quarter also showed developments in terms of shareholding hedge funds. While Tom Gayner decreased Marriott’s portfolio participation by 3%, leaving Markel Gayner Asset Management with 1.3 million shares, worth $72.9 million, Andrew Sandler’s Sandler Capital Management entered a new shareholding position, with 569,400 shares, worth approximately $31.8 million.