Y Intercept Hong Kong Ltd Buys 46,936 Shares of Park Hotels & Resorts Inc. $PK

Y Intercept Hong Kong Ltd grew its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 115.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,442 shares of the financial services provider’s stock after buying an additional 46,936 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Park Hotels & Resorts were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PK. California State Teachers Retirement System grew its holdings in shares of Park Hotels & Resorts by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 968 shares during the period. Kera Capital Partners Inc. lifted its holdings in Park Hotels & Resorts by 13.3% during the third quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 1,714 shares in the last quarter. Pitcairn Co. grew its stake in Park Hotels & Resorts by 13.7% in the second quarter. Pitcairn Co. now owns 15,029 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 1,814 shares during the period. Arrow Investment Advisors LLC grew its stake in Park Hotels & Resorts by 10.7% in the third quarter. Arrow Investment Advisors LLC now owns 19,461 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 1,880 shares during the period. Finally, Accel Wealth Management increased its holdings in shares of Park Hotels & Resorts by 20.0% in the third quarter. Accel Wealth Management now owns 12,000 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 2,000 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $10.90 on Monday. The company has a fifty day moving average price of $10.91 and a two-hundred day moving average price of $11.01. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $13.73. The stock has a market cap of $2.18 billion, a P/E ratio of -155.71 and a beta of 1.45. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The business had revenue of $610.00 million for the quarter, compared to the consensus estimate of $617.05 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley set a $10.00 target price on Park Hotels & Resorts in a research note on Friday, January 16th. Zacks Research cut shares of Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, December 1st. Truist Financial boosted their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, December 4th. Finally, UBS Group increased their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $11.27.

Insider Buying and Selling at Park Hotels & Resorts

In other Park Hotels & Resorts news, Director Christie B. Kelly acquired 2,949 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was purchased at an average price of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director directly owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

About Park Hotels & Resorts

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.