Venturi Wealth Management LLC Raises Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Venturi Wealth Management LLC boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 281.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,850 shares of the financial services provider’s stock after buying an additional 2,841 shares during the quarter. Venturi Wealth Management LLC’s holdings in Park Hotels & Resorts were worth $54,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its stake in 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. lifted 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 worth $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of 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 during the period. Epoch Investment Partners Inc. grew its holdings in shares of Park Hotels & Resorts by 135.7% in 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 purchasing an additional 801,372 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Park Hotels & Resorts during the 2nd quarter worth approximately $4,817,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PK shares. 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. UBS Group decreased their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Truist Financial cut their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Compass Point lowered their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $18.00.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $14.49 on Friday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth 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 company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $14.35 and a 200 day moving average price of $14.82.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company 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 company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Research analysts predict that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal 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.