Victory Capital Management Inc. Acquires 19,273 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Victory Capital Management Inc. increased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,002 shares of the financial services provider’s stock after purchasing an additional 19,273 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Park Hotels & Resorts worth $1,537,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PK. Blue Zone Wealth Advisors LLC increased its stake in shares of Park Hotels & Resorts by 0.4% during the second 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 period. Arizona State Retirement System raised its holdings in shares of 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 valued at $883,000 after purchasing an additional 1,232 shares in the last quarter. Bfsg LLC lifted its position in shares of 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 period. Kendall Capital Management boosted its stake in shares of Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 1,500 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in Park Hotels & Resorts by 10.5% during the second quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider’s stock valued at $237,000 after buying an additional 1,509 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Up 3.0 %

Shares of NYSE:PK opened at $15.50 on Tuesday. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $14.43 and a two-hundred day moving average of $14.73. The stock has a market cap of $3.20 billion, a P/E ratio of 9.87, a PEG ratio of 0.83 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Compass Point cut their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, UBS Group lifted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $18.09.

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.