Donald Smith & CO. Inc. Buys 1,484,295 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Donald Smith & CO. Inc. increased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 22.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,077,286 shares of the financial services provider's stock after buying an additional 1,484,295 shares during the quarter. Park Hotels & Resorts comprises about 2.7% of Donald Smith & CO. Inc.'s portfolio, making the stock its 14th biggest position. Donald Smith & CO. Inc. owned approximately 3.87% of Park Hotels & Resorts worth $113,890,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New York State Teachers Retirement System boosted its holdings in shares of Park Hotels & Resorts by 1.5% during the 3rd quarter. New York State Teachers Retirement System now owns 309,810 shares of the financial services provider's stock valued at $4,368,000 after buying an additional 4,702 shares in the last quarter. abrdn plc grew its position in shares of Park Hotels & Resorts by 10.4% during the 3rd quarter. abrdn plc now owns 42,315 shares of the financial services provider's stock worth $597,000 after buying an additional 3,986 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Park Hotels & Resorts by 4.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 61,374 shares of the financial services provider's stock worth $890,000 after purchasing an additional 2,533 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Park Hotels & Resorts by 198.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,242 shares of the financial services provider's stock worth $1,117,000 after acquiring an additional 52,699 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Park Hotels & Resorts by 1,310.0% in the third quarter. International Assets Investment Management LLC now owns 21,785 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 20,240 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Up 0.2 %

NYSE PK traded up $0.02 during trading hours on Wednesday, hitting $14.08. The company's stock had a trading volume of 4,555,845 shares, compared to its average volume of 2,727,798. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The stock has a fifty day moving average of $14.44 and a 200 day moving average of $14.96. Park Hotels & Resorts Inc. has a twelve month low of $11.23 and a twelve month high of $18.05. The firm has a market capitalization of $2.94 billion, a P/E ratio of 9.88, a PEG ratio of 0.72 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI dropped their price target on shares of 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 cut shares of Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Monday, October 14th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and an average target price of $17.36.

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.