Mirae Asset Global Investments Co. Ltd. Takes $4.56 Million Position in Park Hotels & Resorts Inc (PK)

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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.

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

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

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