Is Marriott Stock a Buy After GMT Capital Initiated a Position Worth Over $66 Million?

What happened

According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, GMT Capital Corp. established a new position in Marriott Vacations Worldwide Corporation (NYSE:VAC) during the first quarter, acquiring 1,023,450 shares.

The estimated trade size was $63.41 million, calculated using the average closing price for the quarter. The quarter-end value of the position was $66.65 million, reflecting both the purchase and subsequent price movement.

What else to know

• This new position makes up 3.04% of GMT Capital Corp’s 13F reportable AUM as of March 31, 2026.
• Top holdings after the filing:
  • NYSE: HBM: $457.23 million (20.9% of AUM)
  • NYSE: DAL: $294.05 million (13.4% of AUM)
  • NASDAQ: JAZZ: $109.84 million (5.0% of AUM)
  • NYSE: ERO: $97.05 million (4.4% of AUM)
  • NASDAQ: UAL: $89.19 million (4.1% of AUM)
• As of May 14, 2026, Marriott Vacations Worldwide shares were priced at $72.18, up 4.8% over the past year, underperforming the S&P 500 by 22.48 percentage points.

Company Overview

Company Snapshot

• Marriott Vacations Worldwide offers vacation ownership products and related services under brands such as Marriott Vacation Club, Sheraton Vacation Club, Westin Vacation Club, and The Ritz-Carlton Destination Club, as well as manages exchange networks and resort management programs.
• It generates revenue through the development, marketing, sale, and management of vacation ownership interests, complemented by recurring fees from exchange memberships and third-party resort management.
• The company targets leisure travelers seeking upscale vacation experiences, with a primary customer base comprising individuals and families purchasing timeshare ownership or vacation club memberships.

Marriott Vacations Worldwide Corporation is a leading global provider of vacation ownership and related hospitality products, operating a portfolio of over 120 properties across the United States and internationally.

The company leverages a multi-brand strategy and a robust sales network to capture demand in the upscale leisure travel segment. Its competitive advantage lies in its exclusive brand partnerships, diversified revenue streams, and established presence in the vacation ownership industry.

What this transaction means for investors

Atlanta-based GMT Capital’s purchase of Marriott Vacations Worldwide shares is a noteworthy event. It represents a new stake, which suggests the hedge fund is bullish on Marriott stock. The buy was a substantial size as well, placing the stock just outside the fund’s top ten as the eleventh largest holding.

GMT Capital’s stake may have been prompted by the fact that Marriott’s business is doing well. It posted first quarter revenue of $1.3 billion, up from $1.2 billion in the prior year.

The company also produces ample free cash flow (FCF) to fund its robust dividend, currently yielding 4.4%. Marriott forecasted 2026 FCF between $375 million and $425 million, a large increase from 2025’s $145 million.

Marriott stock isn’t cheap. Its price-to-earnings ratio of 13 is elevated compared to the past year, although it’s dropped from a height of 16 reached in 2025. It may be worth picking up shares if the price drops, particularly for income investors planning to hold for the long term.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy.