Park Hotels & Resorts Inc. $PK Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,279 shares of the financial services provider’s stock after selling 19,287 shares during the quarter. Asset Management One Co. Ltd. owned about 0.16% of Park Hotels & Resorts worth $3,236,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PK. GAMMA Investing LLC lifted its holdings in shares of Park Hotels & Resorts by 401.2% in the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock valued at $56,000 after buying an additional 4,229 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Park Hotels & Resorts by 93.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 96,365 shares of the financial services provider’s stock valued at $1,029,000 after buying an additional 46,615 shares during the period. Spire Wealth Management lifted its holdings in shares of Park Hotels & Resorts by 47.1% in the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider’s stock valued at $81,000 after buying an additional 2,440 shares during the period. Peregrine Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 6.5% in the first quarter. Peregrine Capital Management LLC now owns 400,584 shares of the financial services provider’s stock valued at $4,278,000 after buying an additional 24,356 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Park Hotels & Resorts by 34.4% in the first quarter. Teacher Retirement System of Texas now owns 30,199 shares of the financial services provider’s stock valued at $323,000 after buying an additional 7,724 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 0.8%

NYSE:PK opened at $10.97 on Thursday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 40.62 and a beta of 1.83. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average price is $11.43 and its 200 day moving average price is $10.82.

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

Analyst Ratings Changes

Several brokerages have recently commented on PK. UBS Group upped their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Cantor Fitzgerald began coverage on Park Hotels & Resorts in a report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 target price for the company. Morgan Stanley reaffirmed an “outperform” rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Citigroup downgraded 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 report on Tuesday, September 9th. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.