Voya Investment Management LLC Decreases Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Voya Investment Management LLC trimmed its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 19.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,086 shares of the financial services provider’s stock after selling 8,684 shares during the period. Voya Investment Management LLC’s holdings in Park Hotels & Resorts were worth $973,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Veritable L.P. grew its stake in shares of Park Hotels & Resorts by 81.9% in the 2nd quarter. Veritable L.P. now owns 19,969 shares of the financial services provider’s stock valued at $538,000 after buying an additional 8,992 shares during the period. OxFORD Asset Management LLP lifted its position in shares of Park Hotels & Resorts by 471.6% during the 2nd quarter. OxFORD Asset Management LLP now owns 349,465 shares of the financial services provider’s stock worth $9,422,000 after buying an additional 288,324 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Park Hotels & Resorts by 24.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,772,972 shares of the financial services provider’s stock worth $47,800,000 after buying an additional 345,721 shares in the last quarter. Cbre Clarion Securities LLC lifted its position in shares of Park Hotels & Resorts by 883.4% during the 2nd quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock worth $162,760,000 after buying an additional 5,423,181 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Park Hotels & Resorts by 501.6% during the 2nd quarter. Quantbot Technologies LP now owns 82,107 shares of the financial services provider’s stock worth $2,213,000 after buying an additional 68,460 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Shares of Park Hotels & Resorts Inc. (NYSE:PK) traded down $0.31 during trading on Friday, reaching $28.81. 815,500 shares of the company were exchanged, compared to its average volume of 2,023,997. Park Hotels & Resorts Inc. has a 12 month low of $24.65 and a 12 month high of $33.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.26.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $688.00 million for the quarter, compared to the consensus estimate of $676.76 million. Park Hotels & Resorts had a net margin of 93.04% and a return on equity of 46.66%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. research analysts anticipate that Park Hotels & Resorts Inc. will post 2.74 earnings per share for the current fiscal year.

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Several equities research analysts have recently issued reports on PK shares. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, August 8th. Canaccord Genuity reduced their price target 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. Boenning Scattergood set a $29.00 price target on shares of Park Hotels & Resorts and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Nomura lifted their price objective on shares of Park Hotels & Resorts from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $34.87.

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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