State of Tennessee Treasury Department grew its position in Park Hotels & Resorts Inc (NYSE:PK) by 130.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,198 shares of the financial services provider’s stock after purchasing an additional 83,859 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of Park Hotels & Resorts worth $1,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vident Investment Advisory LLC acquired a new stake in Park Hotels & Resorts during the 4th quarter worth $660,000. Quantitative Systematic Strategies LLC acquired a new stake in Park Hotels & Resorts during the 4th quarter worth $540,000. Shelton Capital Management acquired a new stake in Park Hotels & Resorts during the 4th quarter worth $389,000. Great West Life Assurance Co. Can raised its stake in Park Hotels & Resorts by 1.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 326,819 shares of the financial services provider’s stock worth $8,390,000 after acquiring an additional 5,189 shares in the last quarter. Finally, Westpac Banking Corp raised its stake in Park Hotels & Resorts by 1,759.1% during the 4th quarter. Westpac Banking Corp now owns 143,150 shares of the financial services provider’s stock worth $3,703,000 after acquiring an additional 135,450 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

Shares of NYSE PK opened at $9.63 on Friday. The company has a quick ratio of 5.41, a current ratio of 5.41 and a debt-to-equity ratio of 0.92. Park Hotels & Resorts Inc has a 52 week low of $3.99 and a 52 week high of $28.03. The firm has a 50-day moving average price of $10.44 and a 200 day moving average price of $15.24. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 3.93 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.33). Park Hotels & Resorts had a negative net margin of 17.17% and a negative return on equity of 7.95%. The company had revenue of $599.00 million during the quarter, compared to analyst estimates of $572.02 million. During the same quarter last year, the business earned $0.67 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts expect that Park Hotels & Resorts Inc will post -0.18 EPS for the current fiscal year.

Several research analysts have issued reports on the stock. Capital One Financial downgraded shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 29th. Barclays raised their price objective on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Wells Fargo & Co reissued a “sell” rating on shares of Park Hotels & Resorts in a research report on Tuesday, June 9th. Raymond James raised shares of Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research report on Monday, June 8th. Finally, SunTrust Banks lowered their price objective on shares of Park Hotels & Resorts from $27.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.29.

In other Park Hotels & Resorts news, Director Thomas D. Eckert bought 30,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was bought at an average price of $11.05 per share, for a total transaction of $331,500.00. Also, Director Thomas A. Natelli bought 7,500 shares of the business’s stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $11.39 per share, with a total value of $85,425.00. Following the transaction, the director now owns 112,898 shares of the company’s stock, valued at approximately $1,285,908.22. The disclosure for this purchase can be found here. Insiders purchased 50,000 shares of company stock valued at $555,675 in the last quarter. Company insiders own 0.60% of the company’s stock.

Park Hotels & Resorts Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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

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