NewEdge Advisors LLC Makes New $430,000 Investment in Park Hotels & Resorts Inc. $PK

NewEdge Advisors LLC acquired a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,836 shares of the financial services provider’s stock, valued at approximately $430,000.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its position in Park Hotels & Resorts by 106.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider’s stock valued at $2,005,000 after buying an additional 99,051 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after acquiring an additional 1,813,338 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Park Hotels & Resorts during the 2nd quarter worth $230,000. Matthew 25 Management Corp boosted its holdings in Park Hotels & Resorts by 61.1% during the 4th quarter. Matthew 25 Management Corp now owns 765,000 shares of the financial services provider’s stock worth $8,002,000 after acquiring an additional 290,000 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Park Hotels & Resorts by 15.9% in the 4th quarter. Legal & General Group Plc now owns 1,339,137 shares of the financial services provider’s stock worth $14,007,000 after acquiring an additional 183,882 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 0.4%

NYSE PK opened at $15.12 on Tuesday. The business’s fifty day moving average is $14.27 and its 200-day moving average is $12.20. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -13.88, a PEG ratio of 1.99 and a beta of 1.34. Park Hotels & Resorts Inc. has a one year low of $9.84 and a one year high of $15.48.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PK shares. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a report on Friday, June 12th. Barclays boosted their price target on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. JPMorgan Chase & Co. increased their price objective on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Morgan Stanley lifted their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $12.00 target price on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $13.18.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.