Quest Partners LLC Cuts Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Quest Partners LLC lessened its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 71.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,062 shares of the financial services provider’s stock after selling 55,388 shares during the period. Quest Partners LLC’s holdings in Park Hotels & Resorts were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts in the third quarter valued at about $33,000. Venturi Wealth Management LLC grew its stake in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the last quarter. Quarry LP grew its stake in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the last quarter. Claro Advisors LLC purchased a new stake in shares of Park Hotels & Resorts during the third quarter worth about $69,000. Finally, Covestor Ltd grew its stake in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

PK has been the topic of a number of research analyst reports. Truist Financial dropped their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. UBS Group boosted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Evercore ISI dropped their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.09.

Park Hotels & Resorts Trading Up 3.0 %

Park Hotels & Resorts stock opened at $15.50 on Tuesday. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. The stock has a 50-day moving average price of $14.43 and a 200 day moving average price of $14.73. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (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 during the quarter, compared to analyst estimates of $646.15 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

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.