BNP Paribas Arbitrage SA increased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 422.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,657 shares of the financial services provider’s stock after purchasing an additional 35,304 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Park Hotels & Resorts were worth $1,177,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in shares of Park Hotels & Resorts by 7.1% during the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 624 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Park Hotels & Resorts by 9.2% during the second quarter. Teacher Retirement System of Texas now owns 10,437 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 878 shares during the period. Balasa Dinverno & Foltz LLC acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth about $307,000. Daiwa Securities Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 41.8% during the second quarter. Daiwa Securities Group Inc. now owns 12,900 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 3,800 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth about $456,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on PK. Boenning Scattergood set a $29.00 target price on Park Hotels & Resorts and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity decreased their target price on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a report on Friday, August 4th. Zacks Investment Research downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. J P Morgan Chase & Co began coverage on Park Hotels & Resorts in a report on Thursday, June 15th. They set an “overweight” rating and a $30.00 target price for the company. Finally, Evercore ISI began coverage on Park Hotels & Resorts in a report on Wednesday, May 31st. They set an “outperform” rating and a $28.00 target price for the company. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $34.80.

Park Hotels & Resorts Inc. (PK) opened at 26.55 on Thursday. The firm has a 50-day moving average price of $26.41 and a 200-day moving average price of $26.43. Park Hotels & Resorts Inc. has a one year low of $24.65 and a one year high of $33.40. The firm has a market capitalization of $5.70 billion and a P/E ratio of 2.28.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $733 million for the quarter, compared to analyst estimates of $716.51 million. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts anticipate that Park Hotels & Resorts Inc. will post $12.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.72 dividend on an annualized basis and a yield of 6.48%.

In related news, Director Stephen I. Sadove acquired 9,600 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was bought at an average cost of $25.97 per share, with a total value of $249,312.00. Following the transaction, the director now owns 20,151 shares of the company’s stock, valued at $523,321.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

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Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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