Penserra Capital Management LLC Increases Position in Park Hotels & Resorts Inc (NYSE:PK)

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Penserra Capital Management LLC boosted its position in Park Hotels & Resorts Inc (NYSE:PK) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,330 shares of the financial services provider’s stock after acquiring an additional 666 shares during the quarter. Penserra Capital Management LLC’s holdings in Park Hotels & Resorts were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its stake in shares of Park Hotels & Resorts by 11.1% during the third quarter. Parametric Portfolio Associates LLC now owns 397,001 shares of the financial services provider’s stock worth $9,913,000 after acquiring an additional 39,508 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Park Hotels & Resorts by 19.2% in the 3rd quarter. California State Teachers Retirement System now owns 386,916 shares of the financial services provider’s stock worth $9,661,000 after acquiring an additional 62,314 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of Park Hotels & Resorts by 29.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 48,384 shares of the financial services provider’s stock worth $1,208,000 after acquiring an additional 11,084 shares during the last quarter. State Street Corp lifted its holdings in shares of Park Hotels & Resorts by 51.6% in the 3rd quarter. State Street Corp now owns 10,984,609 shares of the financial services provider’s stock worth $279,191,000 after acquiring an additional 3,737,796 shares during the last quarter. Finally, New Mexico Educational Retirement Board purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at $1,034,000.

Shares of Park Hotels & Resorts stock opened at $23.75 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.32 and a current ratio of 1.32. Park Hotels & Resorts Inc has a 52-week low of $21.68 and a 52-week high of $33.02. The company’s 50 day moving average price is $23.22 and its 200-day moving average price is $25.47. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 2.18 and a beta of 1.29.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.64). The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate of $658.27 million. Park Hotels & Resorts had a net margin of 8.71% and a return on equity of 4.09%. As a group, equities research analysts forecast that Park Hotels & Resorts Inc will post 2.77 earnings per share for the current fiscal year.

Several equities analysts recently commented on PK shares. BMO Capital Markets started coverage on shares of Park Hotels & Resorts in a report on Wednesday, October 16th. They set a “market perform” rating and a $25.00 target price on the stock. Barclays reissued an “overweight” rating and issued a $30.00 price target on shares of Park Hotels & Resorts in a research note on Friday, September 27th. Zacks Investment Research lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. Evercore ISI upgraded shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and cut their price target for the company from $33.00 to $31.00 in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $23.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $28.82.

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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion 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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