Oppenheimer & Co. Inc. Decreases Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Oppenheimer & Co. Inc. lessened its position in shares of Park Hotels & Resorts Inc. (NYSE:PKGet Rating) by 17.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,321 shares of the financial services provider’s stock after selling 4,775 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Park Hotels & Resorts were worth $316,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Park Hotels & Resorts by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,022 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at approximately $45,000. Lindbrook Capital LLC raised its position in shares of Park Hotels & Resorts by 143.9% during the 2nd quarter. Lindbrook Capital LLC now owns 3,410 shares of the financial services provider’s stock valued at $46,000 after buying an additional 2,012 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $133,000. Finally, Walleye Trading LLC purchased a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $228,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $12.21 on Friday. The company has a fifty day simple moving average of $12.43 and a two-hundred day simple moving average of $14.55. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 42.10 and a beta of 1.95. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.08. Park Hotels & Resorts Inc. has a 52 week low of $10.98 and a 52 week high of $20.58.

Park Hotels & Resorts (NYSE:PKGet Rating) last issued its earnings results on Wednesday, November 2nd. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.23). The firm had revenue of $662.00 million for the quarter, compared to analyst estimates of $651.62 million. Park Hotels & Resorts had a return on equity of 1.41% and a net margin of 2.67%. As a group, equities analysts anticipate that Park Hotels & Resorts Inc. will post 1.43 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. Park Hotels & Resorts’s payout ratio is currently 13.79%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group reduced their price target on shares of Park Hotels & Resorts to $15.00 in a research report on Tuesday, September 6th. BMO Capital Markets lowered Park Hotels & Resorts from an “outperform” rating to a “market perform” rating and cut their target price for the company from $21.00 to $18.00 in a research report on Tuesday, August 16th. Compass Point cut their target price on Park Hotels & Resorts to $25.00 in a research report on Tuesday. Truist Financial cut their target price on Park Hotels & Resorts to $20.00 in a research report on Wednesday. Finally, Sumitomo Mitsui Financial Group lowered Park Hotels & Resorts from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.38.

Park Hotels & Resorts Company Profile

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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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