HALISTER: Interval Leisure Underperforms as HOT Holders Sell Its Shares

Interval Leisure Underperforms as HOT Holders Sell Its Shares

(Bloomberg) -- Interval Leisure Group down as much as 13%, most intraday since Oct. 28 and is worst performer in Russell 2000 Leisure Time Index (RGUSDSLT); pares loss to down 0.3%.
  • Starwood Hotels & Resorts holders likely selling IILG shares acquired via Interval’s purchase of Vistana, both Oppenheimer analyst Ian Zaffino and SunTrust analyst C. Patrick Scholes said in email interviews
  • Deal resulted in HOT shareholders owning ~55% of combined co.
  • IILG up ~22% from 52-week low on Feb. 9
  • Earlier, ClubCorp Rated New In-Line at Imperial Capital, PT $12 vs $21 Consensus
    • April 15, ClubCorp named IILG in peer group with similar revs., Ebitda, market caps
    • MYCC down as much as 1.4% intraday, among worst performers in Russell 2000 Leisure Time Index
  • IILG has 5 buys, 2 holds, 0 sells; avg PT $18: Bloomberg data
  • NOTES:
    • May 16, Interval Leisure Boosts Buyback by $75m
    • May 13, Interval Leisure Shares Surge Prior to Market- on-Close Order
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
IILG US (Interval Leisure Group Inc)
MYCC US (ClubCorp Holdings Inc)
HOT US (Starwood Hotels & Resorts Worldwide Inc)

People
Ian Zaffino (Oppenheimer & Co Inc)
Charles Scholes (SunTrust Robinson Humphrey Capital Markets)

Topics
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