89,580 Shares in Park Hotels & Resorts Inc (NYSE:PK) Bought by Stevens Capital Management LP

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Stevens Capital Management LP acquired a new position in shares of Park Hotels & Resorts Inc (NYSE:PK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 89,580 shares of the financial services provider’s stock, valued at approximately $2,469,000.

Other institutional investors have also modified their holdings of the company. Enterprise Financial Services Corp increased its holdings in Park Hotels & Resorts by 132.0% during the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 466 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Park Hotels & Resorts in the 1st quarter valued at about $32,000. Penserra Capital Management LLC acquired a new stake in Park Hotels & Resorts in the 1st quarter valued at about $56,000. NEXT Financial Group Inc lifted its stake in Park Hotels & Resorts by 4,000.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Advisor Group Inc. lifted its stake in Park Hotels & Resorts by 34.2% in the 2nd quarter. Advisor Group Inc. now owns 2,375 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 605 shares during the last quarter.

Shares of PK stock traded up $0.05 during trading on Thursday, reaching $23.57. 3,421 shares of the company’s stock traded hands, compared to its average volume of 1,874,334. The company has a market capitalization of $4.73 billion, a P/E ratio of 7.93, a P/E/G ratio of 2.14 and a beta of 1.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a 50-day moving average price of $26.34. Park Hotels & Resorts Inc has a 1 year low of $23.12 and a 1 year high of $34.27.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). The business had revenue of $703.00 million for the quarter, compared to analysts’ expectations of $694.08 million. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Equities research analysts forecast that Park Hotels & Resorts Inc will post 2.87 EPS for the current year.

A number of research firms have recently weighed in on PK. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. TheStreet cut shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a research note on Wednesday, June 5th. Deutsche Bank set a $33.00 target price on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Capital One Financial initiated coverage on shares of Park Hotels & Resorts in a research note on Tuesday, June 25th. They set an “overweight” rating and a $34.00 target price on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $32.38.

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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