Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 394,756 shares of the financial services provider’s stock after selling 5,926 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Park Hotels & Resorts were worth $6,904,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. grew its stake in Park Hotels & Resorts by 6.5% in the first quarter. Donald Smith & CO. Inc. now owns 6,955,362 shares of the financial services provider’s stock worth $121,649,000 after purchasing an additional 425,696 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Park Hotels & Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider’s stock worth $41,945,000 after purchasing an additional 13,473 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Park Hotels & Resorts by 601.1% in the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after purchasing an additional 1,809,886 shares in the last quarter. Norges Bank acquired a new position in Park Hotels & Resorts in the fourth quarter worth about $31,745,000. Finally, Allianz Asset Management GmbH lifted its holdings in Park Hotels & Resorts by 10.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,794,528 shares of the financial services provider’s stock worth $27,456,000 after acquiring an additional 166,152 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PK shares. Wedbush reissued a “neutral” rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $19.00 to $20.00 in a report on Wednesday, May 15th. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays raised their target price on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, Truist Financial cut their target price on shares of Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $17.83.

Park Hotels & Resorts Price Performance

NYSE:PK traded up $0.18 during midday trading on Tuesday, hitting $15.35. 223,809 shares of the stock were exchanged, compared to its average volume of 2,701,534. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 0.73 and a beta of 2.03. The business has a 50-day moving average price of $15.04 and a two-hundred day moving average price of $15.90. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.17). Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The firm had revenue of $639.00 million for the quarter, compared to the consensus estimate of $630.46 million. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.1 EPS for the current year.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.