Amalgamated Bank Has $1.37 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Amalgamated Bank reduced its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,134 shares of the financial services provider’s stock after selling 34,435 shares during the period. Amalgamated Bank’s holdings in Park Hotels & Resorts were worth $1,370,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Asset Management One Co. Ltd. grew its position in shares of Park Hotels & Resorts by 6.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 337,021 shares of the financial services provider’s stock worth $4,752,000 after buying an additional 20,327 shares during the period. Van ECK Associates Corp boosted its stake in Park Hotels & Resorts by 12.3% during the third quarter. Van ECK Associates Corp now owns 35,957 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 3,947 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Park Hotels & Resorts in the third quarter worth $33,000. Private Management Group Inc. grew its holdings in Park Hotels & Resorts by 11.2% in the third quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock worth $31,376,000 after purchasing an additional 223,562 shares during the period. Finally, Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after purchasing an additional 1,484,295 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $15.12 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The firm’s 50-day simple moving average is $14.33 and its two-hundred day simple moving average is $14.82.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS 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 during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the previous year, the company posted $0.51 EPS. Park Hotels & Resorts’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Compass Point cut their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Evercore ISI decreased their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Truist Financial lowered their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus target price of $18.00.

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.