DekaBank Deutsche Girozentrale Increases Stake in Park Hotels & Resorts Inc. (NYSE:PK)

DekaBank Deutsche Girozentrale lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,374 shares of the financial services provider’s stock after buying an additional 2,533 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Park Hotels & Resorts were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of PK. AQR Capital Management LLC increased its position in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after buying an additional 3,897,889 shares during the period. Jupiter Asset Management Ltd. increased its position 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 buying an additional 1,925,850 shares during the period. SG Americas Securities LLC increased its position in shares of Park Hotels & Resorts by 15,714.0% during the first quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock valued at $22,755,000 after buying an additional 1,292,792 shares during the period. Epoch Investment Partners Inc. increased its position 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 period. Finally, Donald Smith & CO. Inc. increased its position 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 buying an additional 425,696 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

PK has been the topic of several research reports. Bank of America dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Compass Point dropped their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial dropped their price objective on shares of 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. Evercore ISI dropped their price objective on shares of 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. Finally, StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts Trading Down 0.4 %

Shares of NYSE PK opened at $13.84 on Friday. The firm’s 50 day moving average price is $14.38 and its 200-day moving average price is $14.91. The company has a market cap of $2.86 billion, a PE ratio of 8.82, a P/E/G ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52-week low of $12.09 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.58 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

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.