Mirae Asset Global Investments Co. Ltd. purchased a new position in Park Hotels & Resorts Inc (NYSE:PK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 139,054 shares of the financial services provider’s stock, valued at approximately $4,564,000.
Other large investors have also bought and sold shares of the company. First Hawaiian Bank acquired a new position in Park Hotels & Resorts in the third quarter worth about $250,000. Standard Life Aberdeen plc raised its position in Park Hotels & Resorts by 163.4% in the second quarter. Standard Life Aberdeen plc now owns 45,392 shares of the financial services provider’s stock worth $1,391,000 after purchasing an additional 28,159 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Park Hotels & Resorts by 16.9% during the second quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock worth $813,000 after buying an additional 3,847 shares in the last quarter. Abacus Planning Group Inc. acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth approximately $208,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth approximately $330,000.
NYSE PK opened at $30.16 on Friday. The company has a market cap of $6.17 billion, a PE ratio of 10.54, a PEG ratio of 2.24 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.55 and a quick ratio of 1.55. Park Hotels & Resorts Inc has a 1-year low of $23.91 and a 1-year high of $34.27.
Several analysts have recently weighed in on PK shares. Nomura raised their price objective on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Deutsche Bank set a $32.00 price objective on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a report on Saturday, November 3rd. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a report on Monday, August 20th. Finally, Wells Fargo & Co dropped their price objective on shares of Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating for the company in a report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $31.72.
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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 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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