Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Rating of “Reduce” from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received an average rating of “Reduce” from the thirteen analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.2727.

A number of equities analysts have weighed in on the company. Evercore lowered their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. JPMorgan Chase & Co. raised their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 3rd. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, December 1st. Finally, Zacks Research downgraded shares of Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th.

Insider Activity

In other Park Hotels & Resorts news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction dated Wednesday, January 14th. The shares were bought at an average cost of $11.19 per share, with a total value of $32,999.31. Following the completion of the acquisition, the director owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently added to or reduced their stakes in the stock. Sculptor Capital LP raised its holdings in Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after acquiring an additional 3,962,304 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after purchasing an additional 3,361,382 shares during the period. Bank of America Corp DE increased its position in shares of Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock worth $131,666,000 after purchasing an additional 3,309,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Park Hotels & Resorts during the third quarter worth about $20,905,000. Finally, Donald Smith & CO. Inc. lifted its position in Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after purchasing an additional 1,813,338 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 0.6%

Shares of PK stock opened at $11.70 on Thursday. The firm’s fifty day moving average price is $11.02 and its two-hundred day moving average price is $11.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $13.22. The firm has a market capitalization of $2.34 billion, a P/E ratio of -167.20 and a beta of 1.45.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.