Public Employees Retirement System of Ohio Sells 64,457 Shares of Park Hotels & Resorts Inc. $PK

Public Employees Retirement System of Ohio lowered its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 18.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,989 shares of the financial services provider’s stock after selling 64,457 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.14% of Park Hotels & Resorts worth $2,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Danske Bank A S purchased a new position in shares of Park Hotels & Resorts in the third quarter worth approximately $25,000. Fifth Third Bancorp increased its holdings in Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,061 shares during the last quarter. Advisory Services Network LLC bought a new position in Park Hotels & Resorts in the third quarter worth approximately $34,000. Harbor Capital Advisors Inc. raised its position in Park Hotels & Resorts by 293.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 3,863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Park Hotels & Resorts by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 1,464 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $15.05 on Friday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -13.81, a PEG ratio of 1.99 and a beta of 1.33. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. The stock’s 50-day simple moving average is $14.19 and its 200-day simple moving average is $12.17. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $15.48.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). The business had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.77 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, analysts expect that Park Hotels & Resorts Inc. will post 1.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research report on Thursday, July 23rd. Barclays raised their target price on Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. JPMorgan Chase & Co. lifted their target price on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $12.00 price target on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Finally, Truist Financial boosted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Reduce” and a consensus price target of $13.18.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.