Ethic Inc. Buys 24,911 Shares of Park Hotels & Resorts Inc. $PK

Ethic Inc. grew its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 179.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,789 shares of the financial services provider’s stock after purchasing an additional 24,911 shares during the quarter. Ethic Inc.’s holdings in Park Hotels & Resorts were worth $408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. IFM Investors Pty Ltd raised its holdings in Park Hotels & Resorts by 2.2% during the 1st quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider’s stock valued at $515,000 after buying an additional 1,043 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Park Hotels & Resorts by 10.6% in the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 1,239 shares during the last quarter. Vident Advisory LLC increased its position in shares of Park Hotels & Resorts by 11.2% in the first quarter. Vident Advisory LLC now owns 13,153 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,325 shares during the period. EntryPoint Capital LLC raised its stake in shares of Park Hotels & Resorts by 7.4% during the first quarter. EntryPoint Capital LLC now owns 19,889 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 1,367 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Park Hotels & Resorts by 10.7% during the first quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 1,455 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PK has been the topic of several research analyst reports. Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $12.00 in a research note on Tuesday, September 9th. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a research report on Friday, October 3rd. Wall Street Zen cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Park Hotels & Resorts in a research report on Wednesday, October 8th. Finally, UBS Group boosted their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus price target of $12.00.

Park Hotels & Resorts Price Performance

PK stock opened at $10.97 on Thursday. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. The company has a fifty day simple moving average of $11.43 and a two-hundred day simple moving average of $10.82. The firm has a market capitalization of $2.19 billion, a P/E ratio of 40.62 and a beta of 1.83.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Profile

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.