Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 488.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,473 shares of the financial services provider's stock after buying an additional 69,296 shares during the period. Allspring Global Investments Holdings LLC's holdings in Park Hotels & Resorts were worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Epoch Investment Partners Inc. grew its position in Park Hotels & Resorts by 135.7% during the first quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider's stock worth $24,344,000 after buying an additional 801,372 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Park Hotels & Resorts by 492.7% during the 1st quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider's stock worth $950,000 after acquiring an additional 45,176 shares in the last quarter. Algert Global LLC grew its holdings in shares of Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider's stock worth $11,269,000 after acquiring an additional 245,973 shares during the period. Diversified Trust Co purchased a new position in Park Hotels & Resorts in the 2nd quarter valued at approximately $599,000. Finally, ClariVest Asset Management LLC acquired a new position in Park Hotels & Resorts during the first quarter worth $1,240,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 0.3 %

Shares of PK stock traded down $0.04 during trading hours on Friday, hitting $13.85. 2,798,087 shares of the company were exchanged, compared to its average volume of 2,741,646. The firm has a fifty day moving average of $14.38 and a 200 day moving average of $14.92. The company has a quick ratio of 1.58, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts Inc. has a 1 year low of $12.09 and a 1 year high of $18.05. The firm has a market cap of $2.89 billion, a PE ratio of 8.82, a PEG ratio of 0.73 and a beta of 2.02.

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

Analyst Ratings Changes

Several research firms have weighed in on PK. Compass Point lowered their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday. Wolfe Research cut shares of Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Truist Financial cut 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 research report on Wednesday, September 4th. Wells Fargo & Company lowered 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 report on Friday, September 13th. Finally, StockNews.com upgraded Park Hotels & Resorts from a "sell" rating to a "hold" rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.58.

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.