Venturi Wealth Management LLC Raises Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Venturi Wealth Management LLC increased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 281.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,850 shares of the financial services provider’s stock after buying an additional 2,841 shares during the quarter. Venturi Wealth Management LLC’s holdings in Park Hotels & Resorts were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Epoch Investment Partners Inc. lifted its holdings in shares of Park Hotels & Resorts by 135.7% in 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. Acadian Asset Management LLC lifted its holdings in Park Hotels & Resorts by 492.7% in the first quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 45,176 shares during the period. Algert Global LLC boosted its position in Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after purchasing an additional 245,973 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at approximately $599,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Park Hotels & Resorts by 19.5% in the 1st quarter. Russell Investments Group Ltd. now owns 562,900 shares of the financial services provider’s stock valued at $9,846,000 after purchasing an additional 91,983 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $14.49 on Friday. The company has a fifty day simple moving average of $14.35 and a 200-day simple moving average of $14.82. 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 firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week 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 EPS 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 analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PK shares. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Bank of America cut their price target on 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. Wells Fargo & Company lowered their price target 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. Compass Point dropped 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 reduced their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and an average price target of $18.00.

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.