Victory Capital Management Inc. Raises Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Victory Capital Management Inc. lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 21.5% during the third quarter, Holdings Channel reports. The institutional investor owned 109,002 shares of the financial services provider’s stock after purchasing an additional 19,273 shares during the quarter. Victory Capital Management Inc.’s holdings in Park Hotels & Resorts were worth $1,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PK. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts in the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC increased its position in shares of Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,841 shares in the last quarter. Quarry LP raised its stake in shares of Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter worth $69,000. Finally, Covestor Ltd boosted its position in shares of Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after buying an additional 2,711 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $15.50 on Tuesday. The stock has a fifty day moving average price of $14.43 and a 200 day moving average price of $14.73. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The firm has a market capitalization of $3.20 billion, a P/E ratio of 9.87, a PEG ratio of 0.83 and a beta of 2.02. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same period in the prior year, the company earned $0.51 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PK. Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Evercore ISI cut their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Bank of America lowered their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, UBS Group increased their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.09.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.