Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,957 shares of the financial services provider’s stock after acquiring an additional 3,947 shares during the period. Van ECK Associates Corp’s holdings in Park Hotels & Resorts were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after acquiring an additional 3,897,889 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Park Hotels & Resorts by 286.9% in 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 in the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Park Hotels & Resorts by 135.7% during 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 in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Park Hotels & Resorts in the 2nd quarter valued at $4,817,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 0.8 %

Shares of PK stock opened at $15.10 on Wednesday. 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 $12.96 and a twelve month high of $18.05. The company’s 50-day moving average price is $14.32 and its 200-day moving average price is $14.83. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.81 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). The firm 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 business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, equities analysts predict that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PK. Compass Point decreased 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 report on Thursday, October 31st. Bank of America decreased their price target 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. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Evercore ISI decreased their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $18.00.

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.