First Quadrant L P CA Invests $273,000 in Park Hotels & Resorts Inc (NYSE:PK)

First Quadrant L P CA purchased a new position in shares of Park Hotels & Resorts Inc (NYSE:PK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,630 shares of the financial services provider’s stock, valued at approximately $273,000.

Several other institutional investors have also recently modified their holdings of the company. Pitcairn Co. acquired a new position in shares of Park Hotels & Resorts during the second quarter worth about $159,000. Raymond James & Associates boosted its holdings in Park Hotels & Resorts by 135.8% during the second quarter. Raymond James & Associates now owns 378,775 shares of the financial services provider’s stock worth $3,746,000 after buying an additional 218,175 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Park Hotels & Resorts by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,795 shares of the financial services provider’s stock worth $898,000 after buying an additional 13,690 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Park Hotels & Resorts by 96.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 24,073 shares of the financial services provider’s stock worth $238,000 after buying an additional 11,818 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Park Hotels & Resorts by 6.6% during the second quarter. Nisa Investment Advisors LLC now owns 120,334 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 7,481 shares in the last quarter. Institutional investors and hedge funds own 93.58% of the company’s stock.

NYSE:PK opened at $8.27 on Friday. Park Hotels & Resorts Inc has a 52 week low of $3.99 and a 52 week high of $27.03. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $1.95 billion, a PE ratio of 3.38 and a beta of 2.03. The stock has a 50 day moving average of $9.80 and a 200-day moving average of $12.95.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.33). Park Hotels & Resorts had a negative net margin of 17.17% and a negative return on equity of 7.95%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $572.02 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts predict that Park Hotels & Resorts Inc will post -0.86 EPS for the current fiscal year.

In other Park Hotels & Resorts news, Director Thomas D. Eckert bought 30,000 shares of the stock in a transaction on Monday, June 1st. The shares were bought at an average price of $11.05 per share, with a total value of $331,500.00. Also, Director Thomas A. Natelli bought 12,500 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $11.10 per share, for a total transaction of $138,750.00. Following the purchase, the director now owns 112,898 shares in the company, valued at $1,253,167.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 50,000 shares of company stock worth $555,675. Corporate insiders own 0.60% of the company’s stock.

A number of research firms recently commented on PK. Deutsche Bank began coverage on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. They set a “hold” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Park Hotels & Resorts from $19.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $24.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. SunTrust Banks downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 24th. Finally, ValuEngine raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $14.17.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion 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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