Monarch Partners Asset Management LLC Takes Position in Park Hotels & Resorts Inc (PK)

Monarch Partners Asset Management LLC purchased a new position in Park Hotels & Resorts Inc (NYSE:PK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 339,495 shares of the financial services provider’s stock, valued at approximately $11,142,000.

Other large investors have also recently made changes to their positions in the company. Standard Life Aberdeen plc boosted its holdings in Park Hotels & Resorts by 163.4% in the second quarter. Standard Life Aberdeen plc now owns 45,392 shares of the financial services provider’s stock worth $1,391,000 after acquiring an additional 28,159 shares in the last quarter. First Quadrant L P CA boosted its holdings in Park Hotels & Resorts by 245.4% in the second quarter. First Quadrant L P CA now owns 914,248 shares of the financial services provider’s stock worth $28,003,000 after acquiring an additional 649,544 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Park Hotels & Resorts by 16.9% in the second quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 3,847 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Park Hotels & Resorts in the second quarter worth approximately $330,000. Finally, Putnam Investments LLC boosted its holdings in Park Hotels & Resorts by 1.9% in the second quarter. Putnam Investments LLC now owns 274,288 shares of the financial services provider’s stock worth $8,401,000 after acquiring an additional 5,214 shares in the last quarter.

PK stock opened at $29.42 on Friday. Park Hotels & Resorts Inc has a twelve month low of $23.91 and a twelve month high of $34.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $5.92 billion, a PE ratio of 10.58, a P/E/G ratio of 2.17 and a beta of 0.97.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.38). Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.24%. The company had revenue of $652.00 million during the quarter, compared to the consensus estimate of $656.61 million. During the same quarter in the prior year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Park Hotels & Resorts Inc will post 2.86 EPS for the current fiscal year.

Several brokerages have issued reports on PK. Deutsche Bank set a $32.00 price target on Park Hotels & Resorts and gave the stock a “hold” rating in a report on Saturday. Nomura increased their price target on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Evercore ISI lowered Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a report on Monday, August 20th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.06.

Park Hotels & Resorts Profile

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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