Amalgamated Bank Lowers Position in Park Hotels & Resorts Inc. (NYSE:PK)

Amalgamated Bank decreased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 26.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,134 shares of the financial services provider's stock after selling 34,435 shares during the period. Amalgamated Bank's holdings in Park Hotels & Resorts were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in Park Hotels & Resorts by 54.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,621 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 5,479 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Park Hotels & Resorts by 19.5% in the 1st quarter. Russell Investments Group Ltd. now owns 562,900 shares of the financial services provider's stock worth $9,846,000 after acquiring an additional 91,983 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Park Hotels & Resorts by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 275,379 shares of the financial services provider's stock worth $4,816,000 after purchasing an additional 2,185 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Park Hotels & Resorts by 337.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 671,241 shares of the financial services provider's stock valued at $11,740,000 after purchasing an additional 517,624 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Park Hotels & Resorts by 495.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,625 shares of the financial services provider's stock worth $204,000 after purchasing an additional 9,673 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded down $0.33 during midday trading on Thursday, hitting $14.78. 1,930,015 shares of the stock were exchanged, compared to its average volume of 2,772,246. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $14.34 and a 200-day moving average price of $14.82. The stock has a market cap of $3.05 billion, a P/E ratio of 9.69, a PEG ratio of 0.83 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 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 during the quarter, compared to analyst estimates of $646.15 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PK. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. UBS Group cut their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. Truist Financial lowered their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Wolfe Research cut shares of Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. Finally, Evercore ISI decreased their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.00.

Park Hotels & Resorts Company 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.