Park Hotels & Resorts Inc. (NYSE:PK) Stock Position Lowered by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 52.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,218 shares of the financial services provider's stock after selling 39,360 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Park Hotels & Resorts were worth $497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider's stock valued at $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider's stock valued at $77,217,000 after purchasing an additional 3,897,889 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Park Hotels & Resorts by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider's stock worth $46,638,000 after purchasing an additional 115,391 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Park Hotels & Resorts by 286.9% in the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider's stock worth $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in Park Hotels & Resorts by 11.2% in the third quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider's stock worth $31,376,000 after purchasing an additional 223,562 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PK has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Tuesday, August 13th. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Friday, September 13th. Finally, Compass Point dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of "Hold" and a consensus target price of $18.00.

Park Hotels & Resorts Stock Performance

Shares of PK traded down $0.21 during mid-day trading on Friday, reaching $14.49. 3,522,269 shares of the company's stock traded hands, compared to its average volume of 3,530,601. Park Hotels & Resorts Inc. has a 12 month low of $13.23 and a 12 month high of $18.05. The stock has a market capitalization of $2.99 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.80 and a beta of 2.02. The business's 50-day moving average price is $14.36 and its 200-day moving average price is $14.79. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

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 analysts' consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company's revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Equities analysts predict that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

About Park Hotels & Resorts

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.