Envestnet Asset Management Inc. raised its stake in shares of Park Hotels & Resorts Inc (NYSE:PK) by 94.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,371 shares of the financial services provider’s stock after purchasing an additional 2,611 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Park Hotels & Resorts were worth $165,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. PGGM Investments bought a new stake in Park Hotels & Resorts in the second quarter valued at about $86,176,000. BlackRock Inc. increased its stake in Park Hotels & Resorts by 17.1% in the second quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock valued at $497,938,000 after acquiring an additional 2,368,733 shares during the period. Brookfield Asset Management Inc. increased its stake in Park Hotels & Resorts by 52.2% in the first quarter. Brookfield Asset Management Inc. now owns 6,872,340 shares of the financial services provider’s stock valued at $185,691,000 after acquiring an additional 2,356,231 shares during the period. OppenheimerFunds Inc. increased its stake in Park Hotels & Resorts by 10,663.0% in the first quarter. OppenheimerFunds Inc. now owns 1,689,902 shares of the financial services provider’s stock valued at $45,661,000 after acquiring an additional 1,674,201 shares during the period. Finally, American Century Companies Inc. increased its stake in Park Hotels & Resorts by 128.2% in the second quarter. American Century Companies Inc. now owns 2,234,322 shares of the financial services provider’s stock valued at $68,437,000 after acquiring an additional 1,255,290 shares during the period.

Shares of Park Hotels & Resorts stock opened at $32.59 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.37 and a beta of 0.48. Park Hotels & Resorts Inc has a 1-year low of $23.91 and a 1-year high of $34.27.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The firm had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $696.01 million. Park Hotels & Resorts had a net margin of 19.08% and a return on equity of 8.41%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. equities analysts anticipate that Park Hotels & Resorts Inc will post 2.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.72 annualized dividend and a yield of 5.28%. Park Hotels & Resorts’s dividend payout ratio is 61.87%.

A number of analysts recently weighed in on PK shares. SunTrust Banks reissued a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Jefferies Financial Group set a $38.00 target price on shares of Park Hotels & Resorts and gave the company a “buy” rating in a research note on Friday, August 3rd. Barclays reissued a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Finally, JPMorgan Chase & Co. cut shares of Park Hotels & Resorts from an “overweight” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research note on Tuesday, June 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $31.28.

About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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

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