Group One Trading L.P. cut its position in Park Hotels & Resorts Inc. (NYSE:PK) by 69.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,668 shares of the financial services provider’s stock after selling 12,716 shares during the quarter. Group One Trading L.P.’s holdings in Park Hotels & Resorts were worth $153,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PK. Parallel Advisors LLC grew its holdings in Park Hotels & Resorts by 3,050.7% during 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 during the period. Pacer Advisors Inc. raised 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. QS Investors LLC raised its stake in Park Hotels & Resorts by 0.3% in the second quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock valued at $203,000 after buying an additional 22 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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. Finally, CIBC Asset Management Inc raised its stake in Park Hotels & Resorts by 7.1% in the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock valued at $254,000 after buying an additional 624 shares during the period. 97.19% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Group One Trading L.P. Has $153,000 Position in Park Hotels & Resorts Inc. (PK)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://www.thecerbatgem.com/2017/10/04/group-one-trading-l-p-has-153000-position-in-park-hotels-resorts-inc-pk.html.

Park Hotels & Resorts Inc. (PK) traded up 0.63% during trading on Wednesday, hitting $27.36. The stock had a trading volume of 387,627 shares. Park Hotels & Resorts Inc. has a 1-year low of $25.40 and a 1-year high of $30.74. The firm has a 50 day moving average price of $27.35 and a 200-day moving average price of $27.35. The firm has a market capitalization of $5.88 billion and a PE ratio of 2.34.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The company had revenue of $733.00 million for the quarter, compared to the consensus estimate of $716.51 million. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post $12.02 EPS 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 $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.33%. The ex-dividend date of this dividend is Thursday, September 28th.

In related news, Director Stephen I. Sadove bought 9,600 shares of the company’s stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $25.97 per share, for a total transaction of $249,312.00. Following the completion of the purchase, the director now directly owns 20,151 shares in the company, valued at $523,321.47. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

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

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.

Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PK).

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

Receive News & Stock Ratings for Park Hotels & Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts Inc. and related stocks with our FREE daily email newsletter.