KBC Group NV Increases Position in Park Hotels & Resorts Inc. (NYSE:PK)

KBC Group NV boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 34.4% during the third quarter, Holdings Channel.com reports. The firm owned 7,360 shares of the financial services provider’s stock after purchasing an additional 1,882 shares during the quarter. KBC Group NV’s holdings in Park Hotels & Resorts were worth $104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PK. Epoch Investment Partners Inc. boosted its position 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 worth $24,344,000 after purchasing an additional 801,372 shares in the last quarter. Acadian Asset Management LLC boosted 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 worth $950,000 after acquiring an additional 45,176 shares in the last quarter. Algert Global LLC grew its stake in shares of Park Hotels & Resorts by 48.6% during the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after acquiring an additional 245,973 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Park Hotels & Resorts during the second quarter valued at about $599,000. Finally, Quantbot Technologies LP raised its position in shares of Park Hotels & Resorts by 95.7% in the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after purchasing an additional 179,884 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 3.9 %

Shares of PK stock opened at $14.75 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The stock has a 50 day moving average of $14.39 and a 200 day moving average of $14.76. The stock has a market cap of $3.04 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.79 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 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same period last year, the firm earned $0.51 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PK. UBS Group upped their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday. Compass Point cut their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI lowered 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. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently 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.