Park Hotels & Resorts Inc. (NYSE:PK) Stake Boosted by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 1,310.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,785 shares of the financial services provider’s stock after acquiring an additional 20,240 shares during the quarter. International Assets Investment Management LLC’s holdings in Park Hotels & Resorts were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PK. Blue Zone Wealth Advisors LLC lifted its holdings in shares of Park Hotels & Resorts by 0.4% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after buying an additional 883 shares during the last quarter. Arizona State Retirement System lifted its holdings in Park Hotels & Resorts by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 1,232 shares during the last quarter. Bfsg LLC lifted its holdings in Park Hotels & Resorts by 8.7% in the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,235 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Park Hotels & Resorts in the 1st quarter worth approximately $26,000. Finally, Kendall Capital Management lifted its holdings in Park Hotels & Resorts by 11.0% in the 2nd quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,500 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $14.99 on Thursday. The stock’s fifty day simple moving average is $14.35 and its 200 day simple moving average is $14.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts Inc. has a one year low of $12.85 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, analysts expect that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PK shares. Compass Point reduced their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. UBS Group dropped their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday. Truist Financial lowered their price objective on 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. Finally, Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts Profile

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.