Louisiana State Employees Retirement System Sells 1,700 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Louisiana State Employees Retirement System decreased its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,900 shares of the financial services provider’s stock after selling 1,700 shares during the period. Louisiana State Employees Retirement System’s holdings in Park Hotels & Resorts were worth $816,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after purchasing an additional 3,897,889 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after buying an additional 1,925,850 shares during the period. SG Americas Securities LLC boosted its position in Park Hotels & Resorts by 15,714.0% during the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock valued at $22,755,000 after buying an additional 1,292,792 shares during the period. Epoch Investment Partners Inc. boosted its position in Park Hotels & Resorts by 135.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after buying an additional 801,372 shares during the period. Finally, Donald Smith & CO. Inc. boosted its position in Park Hotels & Resorts by 6.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 6,955,362 shares of the financial services provider’s stock valued at $121,649,000 after buying an additional 425,696 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PK. Truist Financial dropped their price target 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. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Bank of America dropped their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Evercore ISI dropped their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Finally, UBS Group dropped their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Trading Up 2.2 %

NYSE PK opened at $14.15 on Tuesday. The company’s 50-day moving average price is $14.36 and its 200-day moving average price is $14.89. The company has a current ratio of 1.51, a quick ratio of 1.58 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.92 billion, a PE ratio of 9.01, a PEG ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts Inc. has a 12 month low of $12.85 and a 12 month high of $18.05.

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

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.