Park Hotels & Resorts Inc (PK) Holdings Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in Park Hotels & Resorts Inc (NYSE:PK) by 29.5% in the third quarter, HoldingsChannel.com reports. The firm owned 44,202 shares of the financial services provider’s stock after purchasing an additional 10,065 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Park Hotels & Resorts were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PK. PGGM Investments bought a new position in Park Hotels & Resorts in the 2nd quarter valued at $86,176,000. BlackRock Inc. grew its stake in shares of Park Hotels & Resorts by 17.1% during the 2nd quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock worth $497,938,000 after acquiring an additional 2,368,733 shares during the period. American Century Companies Inc. grew its stake in shares of Park Hotels & Resorts by 128.2% during the 2nd quarter. American Century Companies Inc. now owns 2,234,322 shares of the financial services provider’s stock worth $68,437,000 after acquiring an additional 1,255,290 shares during the period. FMR LLC grew its stake in shares of Park Hotels & Resorts by 79.8% during the 2nd quarter. FMR LLC now owns 2,191,628 shares of the financial services provider’s stock worth $67,129,000 after acquiring an additional 972,541 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Park Hotels & Resorts by 35.9% during the 2nd quarter. Northern Trust Corp now owns 3,276,256 shares of the financial services provider’s stock worth $100,352,000 after acquiring an additional 866,219 shares during the period.

PK stock opened at $29.42 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.92 billion, a PE ratio of 10.58, a PEG ratio of 2.17 and a beta of 0.97. Park Hotels & Resorts Inc has a fifty-two week low of $23.91 and a fifty-two week high of $34.27.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.38). Park Hotels & Resorts had a return on equity of 8.24% and a net margin of 17.46%. The firm had revenue of $652.00 million for the quarter, compared to the consensus estimate of $656.61 million. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts forecast that Park Hotels & Resorts Inc will post 2.86 EPS for the current year.

Several research analysts have recently weighed in on PK shares. SunTrust Banks reiterated a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Nomura increased their price target on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group set a $38.00 price target on Park Hotels & Resorts and gave the stock a “buy” rating in a research note on Friday, August 3rd. Barclays reiterated a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Finally, Evercore ISI downgraded Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Park Hotels & Resorts presently has an average rating of “Hold” and an average price target of $31.81.

About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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

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