102,500 Park Hotels & Resorts Inc. $PK Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 788.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 115,500 shares of the financial services provider’s stock after buying an additional 102,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Park Hotels & Resorts were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Park Hotels & Resorts during the second quarter valued at approximately $444,311,000. Donald Smith & CO. Inc. purchased a new position in shares of Park Hotels & Resorts during the 2nd quarter worth $207,120,000. Bank of America Corp DE bought a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $136,488,000. Dimensional Fund Advisors LP grew its position in shares of Park Hotels & Resorts by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,834,320 shares of the financial services provider’s stock valued at $29,847,000 after acquiring an additional 102,160 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Park Hotels & Resorts by 58.8% in the 1st quarter. Quantinno Capital Management LP now owns 2,075,796 shares of the financial services provider’s stock worth $21,858,000 after purchasing an additional 768,369 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Morgan Stanley upped their price target on Park Hotels & Resorts from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Park Hotels & Resorts in a research note on Friday, August 14th. Weiss Ratings raised Park Hotels & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, Evercore set a $17.00 price objective on Park Hotels & Resorts in a research note on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $16.64.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $16.73 on Wednesday. The stock has a market cap of $3.37 billion, a PE ratio of 8.38 and a beta of 1.41. Park Hotels & Resorts Inc. has a 1 year low of $9.84 and a 1 year high of $17.14. The firm has a fifty day moving average price of $15.67 and a 200-day moving average price of $13.29. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. Park Hotels & Resorts’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 1.87 earnings per share for the current fiscal year.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.