abrdn plc Has $597,000 Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

abrdn plc lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 10.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 42,315 shares of the financial services provider’s stock after acquiring an additional 3,986 shares during the quarter. abrdn plc’s holdings in Park Hotels & Resorts were worth $597,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PK. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Park Hotels & Resorts in the first quarter valued at about $1,156,000. BNP Paribas Financial Markets grew its stake in Park Hotels & Resorts by 203.2% during the first quarter. BNP Paribas Financial Markets now owns 506,484 shares of the financial services provider’s stock worth $8,858,000 after buying an additional 339,452 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Park Hotels & Resorts by 54.0% during the first quarter. Janney Montgomery Scott LLC now owns 15,621 shares of the financial services provider’s stock worth $273,000 after buying an additional 5,479 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Park Hotels & Resorts during the first quarter worth about $26,000. Finally, Daiwa Securities Group Inc. grew its stake in Park Hotels & Resorts by 2.7% during the first quarter. Daiwa Securities Group Inc. now owns 73,979 shares of the financial services provider’s stock worth $1,294,000 after buying an additional 1,956 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group dropped 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. Bank of America lowered 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 report on Monday, October 21st. Compass Point lowered their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, Truist Financial decreased their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.15 on Tuesday. The company’s 50-day moving average is $14.36 and its 200 day moving average is $14.89. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.58 and a current ratio of 1.51. The company has a market capitalization of $2.92 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.09 earnings per share 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.