Park Hotels & Resorts Inc. (PK) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,399 shares of the financial services provider’s stock after buying an additional 7,581 shares during the quarter. Rhumbline Advisers owned 0.07% of Park Hotels & Resorts worth $4,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in PK. Vanguard Group Inc. grew its stake in Park Hotels & Resorts by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock valued at $608,693,000 after purchasing an additional 2,963,035 shares during the last quarter. BlackRock Inc. grew its stake in Park Hotels & Resorts by 57.5% during the 2nd quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock valued at $262,679,000 after purchasing an additional 3,558,810 shares during the last quarter. Cbre Clarion Securities LLC grew its stake in Park Hotels & Resorts by 883.4% during the 2nd quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock valued at $162,760,000 after purchasing an additional 5,423,181 shares during the last quarter. Lasalle Investment Management Securities LLC grew its stake in Park Hotels & Resorts by 0.7% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 4,607,476 shares of the financial services provider’s stock valued at $124,218,000 after purchasing an additional 32,606 shares during the last quarter. Finally, Southeastern Asset Management Inc. TN purchased a new stake in Park Hotels & Resorts during the 2nd quarter valued at about $110,520,000. Hedge funds and other institutional investors own 99.14% of the company’s stock.

Several research firms have weighed in on PK. Zacks Investment Research upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, August 8th. Nomura boosted their price target on Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research note on Monday. Finally, Boenning Scattergood set a $29.00 price objective on Park Hotels & Resorts and gave the company a “buy” rating in a report on Wednesday, October 18th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $34.87.

Shares of Park Hotels & Resorts Inc. (PK) traded up $0.06 during mid-day trading on Wednesday, hitting $28.80. The stock had a trading volume of 1,279,900 shares, compared to its average volume of 1,984,679. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.50. Park Hotels & Resorts Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $33.40.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $676.76 million. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. equities research analysts expect that Park Hotels & Resorts Inc. will post 2.74 earnings per share for the current fiscal year.

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Park Hotels & Resorts 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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