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

Claro Advisors LLC purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,444 shares of the financial services provider’s stock, valued at approximately $161,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Epoch Investment Partners Inc. raised its position in Park Hotels & Resorts by 135.7% during the first quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock worth $24,344,000 after acquiring an additional 801,372 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Park Hotels & Resorts by 492.7% in the 1st quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock valued at $950,000 after purchasing an additional 45,176 shares during the last quarter. Algert Global LLC grew its holdings in Park Hotels & Resorts by 48.6% during the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after purchasing an additional 245,973 shares during the period. Diversified Trust Co acquired a new position in Park Hotels & Resorts during the second quarter worth approximately $599,000. Finally, Quantbot Technologies LP raised its stake in Park Hotels & Resorts by 95.7% in the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after buying an additional 179,884 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.32 on Wednesday. The firm has a 50 day moving average of $14.36 and a 200-day moving average of $14.77. Park Hotels & Resorts Inc. has a 12 month low of $13.23 and a 12 month high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.96 billion, a PE ratio of 9.00, a PEG ratio of 0.80 and a beta of 2.02.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on PK. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Truist Financial reduced their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Bank of America lowered their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI dropped their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.09.

About Park Hotels & Resorts

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.