Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 309,810 shares of the financial services provider’s stock after purchasing an additional 4,702 shares during the period. New York State Teachers Retirement System owned about 0.15% of Park Hotels & Resorts worth $4,368,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PK. AQR Capital Management LLC grew its position in shares of Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after acquiring an additional 3,897,889 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Park Hotels & Resorts by 286.9% during the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after acquiring an additional 1,925,850 shares during the period. SG Americas Securities LLC grew its position in Park Hotels & Resorts by 15,714.0% in the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after purchasing an additional 1,292,792 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Park Hotels & Resorts by 135.7% during the first 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 last quarter. Finally, Donald Smith & CO. Inc. increased its holdings in shares of Park Hotels & Resorts by 6.5% during the first quarter. Donald Smith & CO. Inc. now owns 6,955,362 shares of the financial services provider’s stock valued at $121,649,000 after purchasing an additional 425,696 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 5.0 %

Park Hotels & Resorts stock opened at $14.99 on Thursday. Park Hotels & Resorts Inc. has a one year low of $12.85 and a one year high of $18.05. The company’s fifty day moving average price is $14.35 and its two-hundred day moving average price 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 company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.73 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $646.15 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue was down 4.4% on a year-over-year basis. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PK. Bank of America reduced their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. UBS Group reduced 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 report on Friday, August 16th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Evercore ISI decreased their price target on 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.58.

Park Hotels & Resorts Company 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.