Claro Advisors LLC Acquires New Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Claro Advisors LLC bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,444 shares of the financial services provider’s stock, valued at approximately $161,000.

Several other institutional investors also recently modified their holdings of the stock. Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after acquiring an additional 3,897,889 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Park Hotels & Resorts by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock worth $46,638,000 after purchasing an additional 115,391 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Park Hotels & Resorts by 286.9% in the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after purchasing an additional 1,925,850 shares during the period. Finally, Private Management Group Inc. raised its position in Park Hotels & Resorts by 11.2% during the 3rd quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock worth $31,376,000 after purchasing an additional 223,562 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 0.3 %

PK opened at $14.32 on Wednesday. Park Hotels & Resorts Inc. has a fifty-two week low of $13.23 and a fifty-two week high of $18.05. The firm has a market capitalization of $2.96 billion, a PE ratio of 9.00, a P/E/G ratio of 0.80 and a beta of 2.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company’s 50-day moving average is $14.36 and its 200 day moving average is $14.77.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Compass Point reduced their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Evercore ISI lowered 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. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.09.

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.