Harry Pearce, Director at Marriott International Inc. (NASDAQ:MAR), was awarded a grant of $17,598.6 in shares on Thursday. The value accounts for 270 shares of the $19.2 billion market cap hotel operator and is this grant is the first to be awarded to an insider this month.
However, insider stock sales have been frequent at Marriott this quarter. President and Chief Executive Officer, Arne Sorenson, unloaded 150,000 shares of Class A Common Stock at the beginning of July, using a stock option and paying a price of $65 per share. Another insider to consistently unload shares this quarter is W J Marriott, Chairman of the Board at Marriott. The Director completed several dispositions of 100,000 shares throughout June, paying $63.65 per share for the latest sale.
Hedge fund movements at Marriott have been stable this quarter, although most have decreased the company’s participation in their portfolios. Ken Griffin’s Citadel Investment Group, for one, decreased activity by 25%, and now holds a total of 1.19 million shares, worth $66.9 million.