Eagle Asset Management Inc. Lowers Holdings in Park Hotels & Resorts Inc. (PK)

Eagle Asset Management Inc. lessened its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 236,079 shares of the financial services provider’s stock after selling 3,176 shares during the period. Eagle Asset Management Inc. owned approximately 0.11% of Park Hotels & Resorts worth $6,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PK. Parallel Advisors LLC increased its stake in Park Hotels & Resorts by 3,050.7% in the second quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 4,637 shares during the period. Pacer Advisors Inc. increased its stake in Park Hotels & Resorts by 53.9% in the second quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 2,080 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Park Hotels & Resorts by 148.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 5,360 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Park Hotels & Resorts by 7.1% in the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 624 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in shares of Park Hotels & Resorts by 4,029.2% in the second quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 9,509 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

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Shares of Park Hotels & Resorts Inc. (PK) traded down 0.47% during mid-day trading on Friday, hitting $27.29. 419,288 shares of the company’s stock were exchanged. Park Hotels & Resorts Inc. has a 52 week low of $25.40 and a 52 week high of $30.74. The firm has a 50 day moving average price of $27.29 and a 200-day moving average price of $26.73. The company has a market capitalization of $5.86 billion and a price-to-earnings ratio of 2.34.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. The business had revenue of $733.00 million during the quarter, compared to analyst estimates of $716.51 million. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post $12.02 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.72 annualized dividend and a yield of 6.28%.

In related news, Director Stephen I. Sadove acquired 9,600 shares of the stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $25.97 per share, for a total transaction of $249,312.00. Following the completion of the transaction, the director now directly owns 20,151 shares of the company’s stock, valued at $523,321.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

A number of analysts recently commented on the stock. Boenning Scattergood set a $29.00 price objective on shares of Park Hotels & Resorts and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity cut their target price on shares of Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Zacks Investment Research cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co started coverage on shares of Park Hotels & Resorts in a research report on Thursday, June 15th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Evercore ISI started coverage on shares of Park Hotels & Resorts in a research report on Wednesday, May 31st. They set an “outperform” rating and a $28.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $34.80.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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

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