Creative Planning Has $4.32 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Creative Planning raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 1,068.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,061 shares of the financial services provider's stock after buying an additional 279,871 shares during the quarter. Creative Planning owned approximately 0.15% of Park Hotels & Resorts worth $4,315,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter worth $1,156,000. Blue Zone Wealth Advisors LLC raised its holdings in shares of Park Hotels & Resorts by 2.4% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 251,854 shares of the financial services provider's stock worth $4,405,000 after purchasing an additional 5,825 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Park Hotels & Resorts by 328.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 135,228 shares of the financial services provider's stock valued at $2,365,000 after purchasing an additional 103,665 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider's stock worth $901,000 after purchasing an additional 1,100 shares during the period. Finally, Principal Financial Group Inc. increased its position in Park Hotels & Resorts by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,269,438 shares of the financial services provider's stock worth $22,202,000 after purchasing an additional 23,875 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

NYSE:PK traded up $0.04 during midday trading on Friday, hitting $13.90. 3,712,509 shares of the stock were exchanged, compared to its average volume of 2,716,538. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.72 and a beta of 2.02. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.23. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The business has a 50-day moving average price of $14.47 and a two-hundred day moving average price of $15.06.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.94 million. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PK shares. UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. Wolfe Research lowered Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. Truist Financial lowered their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Bank of America reduced 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 report on Monday. Finally, StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $17.36.

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.