Allspring Global Investments Holdings LLC raised its stake in Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 488.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,473 shares of the financial services provider’s stock after acquiring an additional 69,296 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Park Hotels & Resorts were worth $1,177,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in PK. Fidelis Capital Partners LLC bought a new stake in Park Hotels & Resorts during the 1st quarter valued at $26,000. Quarry LP boosted its holdings in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,857 shares in the last quarter. Claro Advisors LLC purchased a new position in shares of Park Hotels & Resorts during the third quarter worth approximately $69,000. FinTrust Capital Advisors LLC raised its position in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 3,668 shares during the period. Finally, EntryPoint Capital LLC boosted its holdings in Park Hotels & Resorts by 53.5% during the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,260 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.
Park Hotels & Resorts Price Performance
PK opened at $13.90 on Friday. Park Hotels & Resorts Inc. has a 52-week low of $11.23 and a 52-week high of $18.05. The company’s 50-day simple moving average is $14.42 and its two-hundred day simple moving average is $14.95. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $2.90 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.72 and a beta of 2.02.
Analyst Ratings Changes
PK has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. UBS Group dropped their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Evercore ISI cut their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Compass Point cut their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $17.58.
Check Out Our Latest Research Report on Park Hotels & Resorts
About Park Hotels & Resorts
Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.
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