Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 71.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,062 shares of the financial services provider’s stock after selling 55,388 shares during the period. Quest Partners LLC’s holdings in Park Hotels & Resorts were worth $311,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PK. Harbor Capital Advisors Inc. acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC raised its stake in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,841 shares during the period. Quarry LP raised its stake in shares of Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,857 shares during the period. Claro Advisors LLC purchased a new stake in shares of Park Hotels & Resorts during the third quarter worth approximately $69,000. Finally, Covestor Ltd increased its position in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Up 3.0 %

Shares of PK opened at $15.50 on Tuesday. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05. The company has a market capitalization of $3.20 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. The stock has a fifty day simple moving average of $14.43 and a two-hundred day simple moving average of $14.73. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

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 analysts’ consensus estimates 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 return on equity of 9.63% and a net margin of 12.66%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. As a group, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on PK shares. Compass Point dropped their price target 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. Wells Fargo & Company dropped their price target on 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. Bank of America dropped their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Evercore ISI dropped their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Finally, Truist Financial dropped their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. One research 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. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $18.09.

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.