Veritable L.P. grew its position in Park Hotels & Resorts Inc. (NYSE:PK) by 81.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,969 shares of the financial services provider’s stock after purchasing an additional 8,992 shares during the quarter. Veritable L.P.’s holdings in Park Hotels & Resorts were worth $538,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in Park Hotels & Resorts by 3,050.7% in the second quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 4,637 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Park Hotels & Resorts by 53.9% in the second quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock valued at $160,000 after buying an additional 2,080 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Park Hotels & Resorts by 148.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock valued at $242,000 after buying an additional 5,360 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Park Hotels & Resorts by 7.1% during the 2nd quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after buying an additional 624 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in shares of Park Hotels & Resorts by 4,029.2% during the 2nd quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock worth $263,000 after buying an additional 9,509 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.

PK has been the subject of several recent analyst reports. Boenning Scattergood set a $29.00 price objective on shares of Park Hotels & Resorts and gave the stock a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, July 11th. Jefferies Group LLC boosted their target price on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, June 20th. Cowen and Company increased their target price on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 20th. Finally, J P Morgan Chase & Co started coverage on shares of Park Hotels & Resorts in a research note on Thursday, June 15th. They set an “overweight” rating and a $30.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.80.

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In other news, Director Stephen I. Sadove acquired 9,600 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was acquired at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the completion of the acquisition, the director now owns 20,151 shares in the company, valued at $523,321.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Shares of Park Hotels & Resorts Inc. (NYSE:PK) opened at 27.56 on Monday. The company has a market cap of $5.92 billion and a price-to-earnings ratio of 2.36. Park Hotels & Resorts Inc. has a 52 week low of $25.40 and a 52 week high of $30.74. The firm’s 50-day moving average is $27.25 and its 200-day moving average is $27.25.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. The firm had revenue of $733.00 million during the quarter, compared to analysts’ expectations of $716.51 million. The business’s revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Park Hotels & Resorts Inc. will post $12.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.72 annualized dividend and a yield of 6.24%.

About Park Hotels & Resorts

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.

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

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