Utah Retirement Systems Has $421,000 Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Utah Retirement Systems increased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 204.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,390 shares of the financial services provider’s stock after purchasing an additional 25,100 shares during the period. Utah Retirement Systems’ holdings in Park Hotels & Resorts were worth $421,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in shares of Park Hotels & Resorts by 7.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 233,436 shares of the financial services provider’s stock worth $2,628,000 after purchasing an additional 15,794 shares during the period. AlphaCrest Capital Management LLC grew its stake in Park Hotels & Resorts by 41.7% in the third quarter. AlphaCrest Capital Management LLC now owns 239,382 shares of the financial services provider’s stock valued at $2,695,000 after acquiring an additional 70,466 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Park Hotels & Resorts by 1,119.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,861 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 18,232 shares during the period. Mackenzie Financial Corp acquired a new position in Park Hotels & Resorts in the second quarter valued at about $151,000. Finally, ExodusPoint Capital Management LP grew its stake in Park Hotels & Resorts by 146.5% in the third quarter. ExodusPoint Capital Management LP now owns 322,144 shares of the financial services provider’s stock valued at $3,627,000 after acquiring an additional 191,477 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

PK opened at $12.23 on Tuesday. Park Hotels & Resorts Inc. has a 52-week low of $10.92 and a 52-week high of $20.58. The firm has a market capitalization of $2.72 billion, a PE ratio of 16.99, a PEG ratio of 0.74 and a beta of 1.96. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.25 and a current ratio of 3.25. The business’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $12.87.

Park Hotels & Resorts (NYSE:PK – Get Rating) last released its earnings results on Wednesday, February 22nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.24). Park Hotels & Resorts had a return on equity of 3.77% and a net margin of 6.48%. The company had revenue of $665.00 million for the quarter, compared to the consensus estimate of $652.61 million. As a group, sell-side analysts expect that Park Hotels & Resorts Inc. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PK has been the subject of a number of research analyst reports. Truist Financial decreased their target price on Park Hotels & Resorts to $20.00 in a research note on Wednesday, November 16th. Morgan Stanley boosted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. TheStreet upgraded Park Hotels & Resorts from a “d+” rating to a “c” rating in a report on Wednesday, February 22nd. Citigroup boosted their price target on Park Hotels & Resorts from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Finally, Wells Fargo & Company boosted their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $18.21.

Insider Buying and Selling

In other Park Hotels & Resorts news, Director Geoffrey Garrett sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $11.86, for a total value of $35,580.00. Following the sale, the director now owns 33,604 shares in the company, valued at $398,543.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.09% of the stock is currently owned by corporate insiders.

Park Hotels & Resorts Profile

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Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.