Swiss National Bank grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522,497 shares of the financial services provider’s stock after buying an additional 2,500 shares during the period. Swiss National Bank owned approximately 0.22% of Park Hotels & Resorts worth $10,001,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Berman Capital Advisors LLC boosted its stake in Park Hotels & Resorts by 73.3% in the second quarter. Berman Capital Advisors LLC now owns 2,540 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,074 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Park Hotels & Resorts by 2,404.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,555 shares of the financial services provider’s stock worth $53,000 after buying an additional 2,453 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Park Hotels & Resorts during the second quarter worth $69,000. Samalin Investment Counsel LLC bought a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at $139,000. Finally, Spirit of America Management Corp NY boosted its holdings in shares of Park Hotels & Resorts by 19.4% during the 3rd quarter. Spirit of America Management Corp NY now owns 9,250 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 1,500 shares in the last quarter. 85.68% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Park Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group downgraded Park Hotels & Resorts from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $20.00 to $18.00 in a report on Tuesday, December 14th. UBS Group downgraded Park Hotels & Resorts to a “neutral” rating in a report on Monday, January 10th. Citigroup decreased their price target on Park Hotels & Resorts from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, October 6th. Finally, Truist Securities lifted their price objective on Park Hotels & Resorts from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.13.
Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, November 3rd. The financial services provider reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.37). The firm had revenue of $423.00 million for the quarter, compared to the consensus estimate of $416.88 million. Park Hotels & Resorts had a negative net margin of 59.47% and a negative return on equity of 13.16%. During the same quarter in the prior year, the firm earned ($0.63) EPS. On average, equities research analysts anticipate that Park Hotels & Resorts Inc. will post -0.64 earnings per share for the current year.
Park Hotels & Resorts Company Profile
Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.
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