State of New Jersey Common Pension Fund D Buys 42,905 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

State of New Jersey Common Pension Fund D raised its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 21.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,327 shares of the financial services provider's stock after purchasing an additional 42,905 shares during the period. State of New Jersey Common Pension Fund D owned 0.12% of Park Hotels & Resorts worth $3,487,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Blue Zone Wealth Advisors LLC boosted its position in shares of Park Hotels & Resorts by 0.4% during the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider's stock valued at $3,786,000 after buying an additional 883 shares during the last quarter. Arizona State Retirement System boosted its position in Park Hotels & Resorts by 2.1% in the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider's stock worth $883,000 after purchasing an additional 1,232 shares during the last quarter. Bfsg LLC grew its stake in shares of Park Hotels & Resorts by 8.7% during the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider's stock valued at $218,000 after purchasing an additional 1,235 shares during the period. Kendall Capital Management increased its position in shares of Park Hotels & Resorts by 11.0% during the 2nd quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 1,500 shares during the last quarter. Finally, United Services Automobile Association boosted its holdings in shares of Park Hotels & Resorts by 10.5% in the second quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider's stock worth $237,000 after buying an additional 1,509 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wolfe Research cut Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. UBS Group cut their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Truist Financial reduced 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 note on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their target price 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $18.00.

Park Hotels & Resorts Price Performance

NYSE:PK traded up $0.03 during mid-day trading on Wednesday, reaching $15.12. 3,713,033 shares of the stock were exchanged, compared to its average volume of 2,776,797. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.12 billion, a PE ratio of 9.62, a PEG ratio of 0.83 and a beta of 2.02. The business has a fifty day moving average price of $14.33 and a 200 day moving average price of $14.82.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. Research analysts expect that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current fiscal year.

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.