World Asset Management Inc Has $164,000 Position in Park Hotels & Resorts Inc (NYSE:PK)

World Asset Management Inc boosted its holdings in shares of Park Hotels & Resorts Inc (NYSE:PK) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,588 shares of the financial services provider’s stock after buying an additional 2,152 shares during the period. World Asset Management Inc’s holdings in Park Hotels & Resorts were worth $164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at $75,747,000. APG Asset Management N.V. boosted its stake in shares of Park Hotels & Resorts by 1,550.0% in the 1st quarter. APG Asset Management N.V. now owns 1,892,600 shares of the financial services provider’s stock valued at $52,386,000 after purchasing an additional 1,777,900 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Park Hotels & Resorts by 28.4% in the 1st quarter. Principal Financial Group Inc. now owns 7,772,320 shares of the financial services provider’s stock valued at $61,479,000 after purchasing an additional 1,718,461 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Park Hotels & Resorts in the 1st quarter valued at $13,120,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of Park Hotels & Resorts in the 2nd quarter valued at $14,780,000. Hedge funds and other institutional investors own 93.58% of the company’s stock.

Shares of NYSE:PK opened at $8.27 on Friday. The stock has a market capitalization of $1.95 billion, a P/E ratio of -4.22 and a beta of 2.03. Park Hotels & Resorts Inc has a 1-year low of $3.99 and a 1-year high of $27.03. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $9.80 and a two-hundred day moving average price of $12.95.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Monday, May 11th. The financial services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.33). The company had revenue of $599.00 million during 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%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. As a group, equities analysts predict that Park Hotels & Resorts Inc will post -0.86 EPS for the current year.

In related news, Director Thomas A. Natelli purchased 12,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $11.10 per share, with a total value of $138,750.00. Following the purchase, the director now directly owns 112,898 shares in the company, valued at approximately $1,253,167.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas A. Natelli purchased 7,500 shares of the stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $11.39 per share, with a total value of $85,425.00. Following the completion of the purchase, the director now owns 112,898 shares in the company, valued at $1,285,908.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 50,000 shares of company stock valued at $555,675. 0.60% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on the company. Capital One Financial cut Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a report on Monday, June 29th. Raymond James cut their price target on Park Hotels & Resorts from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. cut their price target on Park Hotels & Resorts from $19.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 12th. Barclays lifted 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. Finally, Wells Fargo & Co cut their price target on Park Hotels & Resorts from $13.00 to $7.50 and set an “underweight” rating for the company in a report on Wednesday, July 22nd. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.17.

Park Hotels & Resorts 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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