SG Americas Securities LLC Sells 12,817 Shares of Park Hotels & Resorts Inc (NYSE:PK)

SG Americas Securities LLC cut its position in Park Hotels & Resorts Inc (NYSE:PK) by 12.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 90,700 shares of the financial services provider’s stock after selling 12,817 shares during the period. SG Americas Securities LLC’s holdings in Park Hotels & Resorts were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State of Alaska Department of Revenue boosted its stake in Park Hotels & Resorts by 1.8% during the 1st quarter. State of Alaska Department of Revenue now owns 109,159 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 1,887 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its stake in Park Hotels & Resorts by 13.4% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 16,073 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,898 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Park Hotels & Resorts by 24.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,118 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,782 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Park Hotels & Resorts by 18.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,411 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 3,522 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Park Hotels & Resorts by 5.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,105 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 3,671 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.

Several equities analysts have recently weighed in on the company. TheStreet cut Park Hotels & Resorts from a “c” rating to a “d” rating in a report on Monday, May 11th. Citigroup cut Park Hotels & Resorts from a “neutral” rating to a “sell” rating and lowered their price target for the company from $24.00 to $6.50 in a report on Tuesday, April 7th. Deutsche Bank assumed coverage on Park Hotels & Resorts in a report on Wednesday, May 13th. They set a “hold” rating and a $10.00 price target on the stock. ValuEngine raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Barclays increased their price target on Park Hotels & Resorts from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.17.

Shares of Park Hotels & Resorts stock opened at $8.27 on Friday. Park Hotels & Resorts Inc has a one year low of $3.99 and a one year high of $27.03. The stock’s fifty day moving average is $9.80 and its 200 day moving average is $12.95. The stock has a market cap of $1.95 billion, a P/E ratio of -4.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.92, a quick ratio of 5.41 and a current ratio of 5.41.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Monday, May 11th. The financial services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.33). The business had revenue of $599.00 million for the quarter, compared to the consensus estimate of $572.02 million. Park Hotels & Resorts had a negative net margin of 17.17% and a negative return on equity of 7.95%. Park Hotels & Resorts’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. Analysts predict that Park Hotels & Resorts Inc will post -0.86 EPS for the current year.

In other Park Hotels & Resorts news, Director Thomas A. Natelli purchased 7,500 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $11.39 per share, with a total value of $85,425.00. Following the completion of the acquisition, the director now directly owns 112,898 shares in the company, valued at $1,285,908.22. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas D. Eckert acquired 30,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $11.05 per share, with a total value of $331,500.00. Over the last three months, insiders have acquired 50,000 shares of company stock worth $555,675. Insiders own 0.60% of the company’s stock.

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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