Creative Planning Has $4.32 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Creative Planning grew its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 1,068.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,061 shares of the financial services provider’s stock after purchasing an additional 279,871 shares during the period. Creative Planning’s holdings in Park Hotels & Resorts were worth $4,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in Park Hotels & Resorts during the 1st quarter valued at $26,000. Quarry LP grew its position in Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the period. FinTrust Capital Advisors LLC grew its position in Park Hotels & Resorts by 260.5% during the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares during the period. EntryPoint Capital LLC grew its position in Park Hotels & Resorts by 53.5% during the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,260 shares during the period. Finally, Covestor Ltd grew its position in Park Hotels & Resorts by 55.3% during the first quarter. Covestor Ltd now owns 7,430 shares of the financial services provider’s stock valued at $130,000 after buying an additional 2,645 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 1.4 %

Shares of Park Hotels & Resorts stock opened at $13.86 on Friday. Park Hotels & Resorts Inc. has a 12-month low of $11.05 and a 12-month high of $18.05. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.72 and a beta of 2.02. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.23. The company’s 50-day moving average price is $14.47 and its 200-day moving average price is $15.06.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). The company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Monday, October 14th. UBS Group dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $17.36.

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.