Public Employees Retirement System of Ohio Sells 64,457 Shares of Park Hotels & Resorts Inc. $PK

Public Employees Retirement System of Ohio trimmed its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 18.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 275,989 shares of the financial services provider’s stock after selling 64,457 shares during the period. Public Employees Retirement System of Ohio’s holdings in Park Hotels & Resorts were worth $2,906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Park Hotels & Resorts in the 3rd quarter worth $25,000. Fifth Third Bancorp boosted its holdings in shares of Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,061 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Park Hotels & Resorts during the third quarter valued at about $34,000. Harbor Capital Advisors Inc. grew its position in shares of Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Park Hotels & Resorts by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,464 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PK. Morgan Stanley boosted their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Truist Financial upped their price objective on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $14.00 price objective on shares of Park Hotels & Resorts in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Reduce” and a consensus price target of $13.18.

Park Hotels & Resorts Trading Down 0.1%

PK opened at $15.05 on Friday. The stock has a 50-day moving average of $14.19 and a 200 day moving average of $12.17. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 12 month low of $9.84 and a 12 month high of $15.48. The firm has a market cap of $3.03 billion, a P/E ratio of -13.81, a P/E/G ratio of 1.99 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The company had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 1.79 EPS for the current year.

Park Hotels & Resorts Profile

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.