Public Employees Retirement System of Ohio Sells 5,926 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Public Employees Retirement System of Ohio decreased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 394,756 shares of the financial services provider’s stock after selling 5,926 shares during the period. Public Employees Retirement System of Ohio owned 0.19% of Park Hotels & Resorts worth $6,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Park Hotels & Resorts during the 4th quarter worth $31,745,000. Los Angeles Capital Management LLC increased its stake in shares of Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after purchasing an additional 1,809,886 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Park Hotels & Resorts by 36.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock valued at $99,904,000 after purchasing an additional 1,728,921 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Park Hotels & Resorts by 3,694.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock worth $20,739,000 after buying an additional 1,319,800 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Park Hotels & Resorts by 15,714.0% during the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after buying an additional 1,292,792 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

PK has been the subject of a number of analyst reports. Wedbush restated a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Truist Financial reduced their price objective on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $20.00 in a report on Wednesday, May 15th. Finally, Barclays raised their price objective on Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.83.

Park Hotels & Resorts Trading Up 1.2 %

Shares of NYSE:PK traded up $0.18 during mid-day trading on Tuesday, hitting $15.35. The stock had a trading volume of 223,809 shares, compared to its average volume of 2,701,534. The company has a market cap of $3.23 billion, a PE ratio of 34.48, a P/E/G ratio of 0.73 and a beta of 2.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The company’s 50 day moving average is $15.04 and its 200-day moving average is $15.90. Park Hotels & Resorts Inc. has a 12-month low of $11.05 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.17). The company had revenue of $639.00 million during the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. On average, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.1 EPS for the current year.

Park Hotels & Resorts Company Profile

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.