Swiss National Bank Raises Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Swiss National Bank raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 522,497 shares of the financial services provider’s stock after buying an additional 2,500 shares during the quarter. Swiss National Bank’s holdings in Park Hotels & Resorts were worth $10,001,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Berman Capital Advisors LLC grew its position in shares of Park Hotels & Resorts by 73.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 2,540 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,074 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Park Hotels & Resorts by 2,404.9% in the 2nd 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 period. Penserra Capital Management LLC purchased a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth about $69,000. Moors & Cabot Inc. purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth about $71,000. Finally, Samalin Investment Counsel LLC purchased a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth about $139,000. 85.68% of the stock is currently owned by institutional investors and hedge funds.

PK opened at $19.44 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a market capitalization of $4.60 billion, a P/E ratio of -7.53 and a beta of 2.10. The company’s 50-day simple moving average is $18.75 and its two-hundred day simple moving average is $18.92. Park Hotels & Resorts Inc. has a 52-week low of $15.77 and a 52-week high of $24.67.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, November 3rd. The financial services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.37). Park Hotels & Resorts had a negative net margin of 59.47% and a negative return on equity of 13.16%. The company had revenue of $423.00 million for the quarter, compared to the consensus estimate of $416.88 million. During the same quarter in the prior year, the company posted ($0.63) EPS. Research analysts forecast that Park Hotels & Resorts Inc. will post -0.64 EPS for the current fiscal year.

A number of equities analysts recently issued reports on the stock. UBS Group cut shares of Park Hotels & Resorts to a “neutral” rating in a research note on Monday, January 10th. The Goldman Sachs Group cut shares of Park Hotels & Resorts from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Tuesday, December 14th. Wells Fargo & Company cut shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 18th. Bank of America cut shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $23.00 in a research note on Monday, January 10th. Finally, Truist upped their price target on shares of 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.13.

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

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