Park Hotels & Resorts Inc (NYSE:PK) Shares Bought by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System lifted its position in Park Hotels & Resorts Inc (NYSE:PK) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 268,768 shares of the financial services provider’s stock after purchasing an additional 24,945 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Park Hotels & Resorts worth $7,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Comerica Bank lifted its holdings in Park Hotels & Resorts by 3.6% in the first quarter. Comerica Bank now owns 9,505 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 328 shares during the period. Robecosam AG raised its stake in shares of Park Hotels & Resorts by 7.4% during the 2nd quarter. Robecosam AG now owns 5,800 shares of the financial services provider’s stock worth $159,000 after buying an additional 400 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of Park Hotels & Resorts by 132.0% during the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock worth $25,000 after buying an additional 466 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Park Hotels & Resorts by 68.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock worth $40,000 after buying an additional 584 shares during the last quarter. Finally, Advisor Group Inc. raised its stake in shares of Park Hotels & Resorts by 34.2% during the 2nd quarter. Advisor Group Inc. now owns 2,375 shares of the financial services provider’s stock worth $66,000 after buying an additional 605 shares during the last quarter.

Several research firms have recently issued reports on PK. UBS Group set a $24.00 price target on Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Friday, August 16th. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered Park Hotels & Resorts from a “b-” rating to a “c” rating in a research report on Wednesday, June 5th. Capital One Financial initiated coverage on Park Hotels & Resorts in a research report on Tuesday, June 25th. They set an “overweight” rating and a $34.00 price target on the stock. Finally, Deutsche Bank set a $33.00 price target on Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Park Hotels & Resorts presently has an average rating of “Hold” and a consensus price target of $31.44.

Shares of PK traded down $0.01 during trading on Wednesday, reaching $23.18. The company’s stock had a trading volume of 3,371 shares, compared to its average volume of 2,114,349. The company has a fifty day moving average of $25.33 and a two-hundred day moving average of $28.96. Park Hotels & Resorts Inc has a twelve month low of $23.12 and a twelve month high of $34.27. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 2.08 and a beta of 1.26. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.56.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). The business had revenue of $703.00 million during the quarter, compared to analyst estimates of $694.08 million. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, equities analysts forecast that Park Hotels & Resorts Inc will post 2.87 EPS for the current fiscal year.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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