Shell Asset Management Co. Trims Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Shell Asset Management Co. trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PKGet Rating) by 12.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,733 shares of the financial services provider’s stock after selling 6,025 shares during the quarter. Shell Asset Management Co.’s holdings in Park Hotels & Resorts were worth $796,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in Park Hotels & Resorts by 66.9% during the 4th quarter. Van ECK Associates Corp now owns 18,391 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 7,373 shares during the period. State of Michigan Retirement System increased its holdings in Park Hotels & Resorts by 1.2% during the 4th quarter. State of Michigan Retirement System now owns 59,965 shares of the financial services provider’s stock worth $1,132,000 after purchasing an additional 700 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Park Hotels & Resorts during the 4th quarter valued at $470,000. Commonwealth Equity Services LLC boosted its position in Park Hotels & Resorts by 0.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 362,353 shares of the financial services provider’s stock valued at $6,841,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new stake in Park Hotels & Resorts during the 4th quarter valued at $1,948,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on PK shares. Deutsche Bank Aktiengesellschaft increased their target price on Park Hotels & Resorts from $26.00 to $28.00 in a research report on Tuesday, May 3rd. Evercore ISI reaffirmed an “in-line” rating and set a $22.50 target price on shares of Park Hotels & Resorts in a research report on Monday, July 11th. Barclays lowered their price objective on Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, July 7th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Finally, Truist Financial raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $22.00 in a research report on Wednesday, June 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.44.

Insider Buying and Selling at Park Hotels & Resorts

In related news, Director Thomas D. Eckert acquired 10,000 shares of Park Hotels & Resorts stock in a transaction on Tuesday, June 14th. The stock was acquired at an average price of $15.12 per share, for a total transaction of $151,200.00. Following the purchase, the director now owns 96,637 shares of the company’s stock, valued at approximately $1,461,151.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.09% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $15.59 on Monday. The stock has a 50-day moving average of $15.41 and a two-hundred day moving average of $17.57. Park Hotels & Resorts Inc. has a one year low of $12.90 and a one year high of $21.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.02 and a current ratio of 3.02. The stock has a market cap of $3.64 billion, a P/E ratio of -11.38 and a beta of 1.94.

Park Hotels & Resorts (NYSE:PKGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The financial services provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.21). The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. The business’s revenue was up 190.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.48) EPS. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 1.45 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. Park Hotels & Resorts’s payout ratio is currently -2.92%.

Park Hotels & Resorts Company Profile

(Get Rating)

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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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

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