Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. increased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,142 shares of the financial services provider’s stock after acquiring an additional 1,146 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Park Hotels & Resorts were worth $111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. grew its holdings in Park Hotels & Resorts by 72.5% during the 4th quarter. Carmichael Hill & Associates Inc. now owns 1,725 shares of the financial services provider’s stock valued at $30,000 after buying an additional 725 shares during the last quarter. Signaturefd LLC grew its holdings in Park Hotels & Resorts by 19.4% during the 1st quarter. Signaturefd LLC now owns 5,409 shares of the financial services provider’s stock valued at $117,000 after buying an additional 879 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Park Hotels & Resorts by 7.4% during the 4th quarter. Park Avenue Securities LLC now owns 13,685 shares of the financial services provider’s stock valued at $235,000 after buying an additional 947 shares during the last quarter. Federated Hermes Inc. grew its holdings in Park Hotels & Resorts by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 36,475 shares of the financial services provider’s stock valued at $626,000 after buying an additional 972 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Park Hotels & Resorts by 5.8% during the 4th quarter. US Bancorp DE now owns 17,742 shares of the financial services provider’s stock valued at $305,000 after buying an additional 978 shares during the last quarter. Institutional investors and hedge funds own 78.84% of the company’s stock.

Shares of PK opened at $22.06 on Monday. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $5.22 billion, a P/E ratio of -4.74 and a beta of 2.25. The stock’s fifty day simple moving average is $21.78 and its 200 day simple moving average is $18.69. Park Hotels & Resorts Inc. has a twelve month low of $7.01 and a twelve month high of $24.67.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, May 6th. The financial services provider reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The firm had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $134.27 million. Park Hotels & Resorts had a negative return on equity of 19.63% and a negative net margin of 71.01%. The company’s quarterly revenue was down 72.5% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. Sell-side analysts predict that Park Hotels & Resorts Inc. will post -1.73 earnings per share for the current year.

PK has been the topic of a number of analyst reports. Compass Point upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $26.00 in a report on Monday, March 8th. Truist increased their price target on Park Hotels & Resorts from $14.00 to $18.00 in a research note on Thursday, March 18th. Deutsche Bank Aktiengesellschaft increased their price target on Park Hotels & Resorts from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, May 10th. Truist Securities increased their price target on Park Hotels & Resorts from $14.00 to $18.00 in a research note on Thursday, March 18th. Finally, Zacks Investment Research lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $17.10.

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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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

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