Park Hotels & Resorts Inc. $PK Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 87.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,612 shares of the financial services provider’s stock after selling 824,482 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of Park Hotels & Resorts worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Park Hotels & Resorts by 0.5% during the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 968 shares during the period. Kera Capital Partners Inc. lifted its stake in Park Hotels & Resorts by 13.3% in the third quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 1,714 shares during the last quarter. Pitcairn Co. grew its holdings in Park Hotels & Resorts by 13.7% during the 2nd quarter. Pitcairn Co. now owns 15,029 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 1,814 shares in the last quarter. Arrow Investment Advisors LLC increased its position in shares of Park Hotels & Resorts by 10.7% in the 3rd quarter. Arrow Investment Advisors LLC now owns 19,461 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Accel Wealth Management raised its holdings in shares of Park Hotels & Resorts by 20.0% in the 3rd quarter. Accel Wealth Management now owns 12,000 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other Park Hotels & Resorts news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the transaction, the director owned 150,501 shares in the company, valued at approximately $1,684,106.19. The trade was a 2.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Park Hotels & Resorts Stock Down 1.9%

PK opened at $11.21 on Friday. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $13.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $2.24 billion, a P/E ratio of -160.07 and a beta of 1.45. The business’s 50-day simple moving average is $11.05 and its 200-day simple moving average is $11.03.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 3rd. Truist Financial decreased their price target on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, February 3rd. Evercore lowered their price objective on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, November 20th. Morgan Stanley set a $10.00 target price on Park Hotels & Resorts in a research report on Friday, January 16th. Finally, Barclays began coverage on Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Reduce” and a consensus target price of $11.27.

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.