United Services Automobile Association Acquires 3,349 Shares of Park Hotels & Resorts Inc (NYSE:PK)

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United Services Automobile Association boosted its stake in Park Hotels & Resorts Inc (NYSE:PK) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,417 shares of the financial services provider’s stock after purchasing an additional 3,349 shares during the quarter. United Services Automobile Association’s holdings in Park Hotels & Resorts were worth $2,402,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC acquired a new position in Park Hotels & Resorts during the second quarter valued at approximately $66,375,000. Envestnet Asset Management Inc. lifted its position in Park Hotels & Resorts by 94.6% during the second quarter. Envestnet Asset Management Inc. now owns 5,371 shares of the financial services provider’s stock valued at $165,000 after buying an additional 2,611 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in Park Hotels & Resorts during the second quarter valued at approximately $213,000. Hollencrest Capital Management acquired a new position in Park Hotels & Resorts during the second quarter valued at approximately $221,000. Finally, Raymond James Trust N.A. acquired a new position in Park Hotels & Resorts during the second quarter valued at approximately $248,000.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. Barclays reissued a “buy” rating on shares of Park Hotels & Resorts in a research report on Friday, August 3rd. Deutsche Bank set a $32.00 target price on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Saturday, November 3rd. Finally, Jefferies Financial Group set a $38.00 target price on shares of Park Hotels & Resorts and gave the stock a “buy” rating in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.06.

Shares of NYSE PK traded down $0.02 during trading on Friday, reaching $30.85. 1,494,327 shares of the stock were exchanged, compared to its average volume of 2,385,331. Park Hotels & Resorts Inc has a twelve month low of $23.91 and a twelve month high of $34.27. The company has a current ratio of 1.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market cap of $6.21 billion, a P/E ratio of 11.10, a PEG ratio of 2.29 and a beta of 0.97.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.38). The company had revenue of $652.00 million during the quarter, compared to analyst estimates of $656.61 million. Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.27%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. On average, research analysts expect that Park Hotels & Resorts Inc will post 2.84 EPS for the current fiscal year.

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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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