Amalgamated Bank bought a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,165 shares of the financial services provider’s stock, valued at approximately $625,000.

Several other institutional investors have also recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in shares of Park Hotels & Resorts by 3,050.7% in the second quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock worth $129,000 after buying an additional 4,637 shares in the last quarter. Pacer Advisors Inc. boosted its position in Park Hotels & Resorts by 53.9% during the second quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 2,080 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Park Hotels & Resorts by 148.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 5,360 shares during the last quarter. CIBC Asset Management Inc boosted its position in Park Hotels & Resorts by 7.1% during the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 624 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its position in Park Hotels & Resorts by 4,029.2% during the second quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 9,509 shares during the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

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In other news, Director Stephen I. Sadove acquired 9,600 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $25.97 per share, with a total value of $249,312.00. Following the completion of the transaction, the director now directly owns 20,151 shares in the company, valued at approximately $523,321.47. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

A number of research firms have commented on PK. Jefferies Group LLC increased their price objective on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, June 20th. Cowen and Company boosted their target price on Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, July 11th. J P Morgan Chase & Co initiated coverage on Park Hotels & Resorts in a report on Thursday, June 15th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Canaccord Genuity dropped their price target on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.80.

Park Hotels & Resorts Inc. (NYSE:PK) opened at 27.56 on Tuesday. The stock has a market capitalization of $5.92 billion and a price-to-earnings ratio of 2.36. Park Hotels & Resorts Inc. has a 12 month low of $25.40 and a 12 month high of $30.74. The company has a 50-day moving average price of $27.35 and a 200 day moving average price of $27.35.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The firm had revenue of $733.00 million for the quarter, compared to analyst estimates of $716.51 million. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts predict that Park Hotels & Resorts Inc. will post $12.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date is Thursday, September 28th.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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