Wealth Enhancement Advisory Services LLC Has $1.12 Million Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Wealth Enhancement Advisory Services LLC boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 198.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,242 shares of the financial services provider's stock after purchasing an additional 52,699 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Park Hotels & Resorts were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of Park Hotels & Resorts by 1,310.0% during 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 during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider's stock valued at $1,177,000 after acquiring an additional 69,296 shares during the period. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter valued at $69,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Park Hotels & Resorts by 19.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,708 shares of the financial services provider's stock valued at $602,000 after acquiring an additional 6,986 shares during the period. Finally, Bfsg LLC boosted its holdings in shares of Park Hotels & Resorts by 8.7% during the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider's stock valued at $218,000 after acquiring an additional 1,235 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

NYSE:PK traded up $0.12 during trading hours on Tuesday, reaching $14.27. 3,066,089 shares of the company's stock were exchanged, compared to its average volume of 2,757,246. The company has a market capitalization of $2.95 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts Inc. has a 12 month low of $12.85 and a 12 month high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The business's 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $14.88.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its 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 business had revenue of $649.00 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

PK has been the subject of several analyst reports. Evercore ISI reduced their price target 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. Truist Financial lowered their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company reduced 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 research note on Friday, September 13th. StockNews.com upgraded shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Compass Point dropped 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, October 31st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $17.58.

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.