92,746 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Bought by Northeast Financial Group Inc.

Northeast Financial Group Inc. bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 92,746 shares of the financial services provider's stock, valued at approximately $1,308,000.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Park Hotels & Resorts by 54.0% during the first quarter. Janney Montgomery Scott LLC now owns 15,621 shares of the financial services provider's stock worth $273,000 after acquiring an additional 5,479 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Park Hotels & Resorts by 19.5% during 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 period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Park Hotels & Resorts by 0.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 275,379 shares of the financial services provider's stock valued at $4,816,000 after purchasing an additional 2,185 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Park Hotels & Resorts by 337.0% during the first quarter. Jupiter Asset Management Ltd. now owns 671,241 shares of the financial services provider's stock valued at $11,740,000 after acquiring an additional 517,624 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Park Hotels & Resorts by 495.5% during the 1st 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 Trading Down 1.4 %

Shares of NYSE:PK traded down $0.21 during midday trading on Friday, reaching $14.49. The company had a trading volume of 3,522,269 shares, compared to its average volume of 2,782,202. The company has a fifty day simple moving average of $14.36 and a two-hundred day simple moving average of $14.80. 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 firm has a market cap of $2.99 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. Park Hotels & Resorts's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. Research analysts predict that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PK shares. Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating on the stock in a research note on Monday, October 21st. Evercore ISI reduced their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 13th. Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 26th. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.