MQS Management LLC Acquires New Shares in Park Hotels & Resorts Inc. (NYSE:PK)

MQS Management LLC purchased a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 39,914 shares of the financial services provider's stock, valued at approximately $563,000.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Park Hotels & Resorts by 21.5% in the third quarter. Victory Capital Management Inc. now owns 109,002 shares of the financial services provider's stock valued at $1,537,000 after purchasing an additional 19,273 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Park Hotels & Resorts by 345.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider's stock valued at $14,595,000 after acquiring an additional 802,939 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 2,841 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Park Hotels & Resorts in the third quarter worth $210,000. Finally, Los Angeles Capital Management LLC grew its stake in Park Hotels & Resorts by 1.2% in the third quarter. Los Angeles Capital Management LLC now owns 2,046,671 shares of the financial services provider's stock worth $28,858,000 after purchasing an additional 24,325 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 0.1 %

PK traded up $0.02 during trading on Wednesday, reaching $15.11. 3,713,033 shares of the stock were exchanged, compared to its average volume of 2,776,797. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The stock's 50 day moving average price is $14.33 and its two-hundred day moving average price is $14.82. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The stock has a market cap of $3.12 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same period in the prior year, the business earned $0.51 EPS. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

Analyst Ratings Changes

PK has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating on the stock in a report on Friday, September 13th. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Compass Point cut their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Finally, Evercore ISI dropped their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.00.

Park Hotels & Resorts Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.