Intech Investment Management LLC Grows Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Intech Investment Management LLC boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 28.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,310 shares of the financial services provider’s stock after buying an additional 29,894 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Park Hotels & Resorts worth $1,922,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. raised its position in Park Hotels & Resorts by 22.5% in the 3rd 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 last quarter. AQR Capital Management LLC increased its position 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 purchasing an additional 3,897,889 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Park Hotels & Resorts by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after acquiring an additional 115,391 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after acquiring an additional 1,925,850 shares during the last quarter. Finally, Private Management Group Inc. raised its position in shares of Park Hotels & Resorts by 11.2% in the 3rd quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock worth $31,376,000 after buying an additional 223,562 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore ISI reduced their price target 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. UBS Group lifted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company cut their target price on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Bank of America reduced 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 research note on Monday, October 21st. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.09.

Park Hotels & Resorts Stock Up 2.5 %

PK stock opened at $15.05 on Monday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.81 and a beta of 2.02. The company’s 50 day simple moving average is $14.43 and its 200-day simple moving average is $14.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS 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 analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

About Park Hotels & Resorts

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.