Profund Advisors LLC increased its stake in Park Hotels & Resorts Inc (NYSE:PK) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,656 shares of the financial services provider’s stock after purchasing an additional 2,094 shares during the quarter. Profund Advisors LLC’s holdings in Park Hotels & Resorts were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PK. BlackRock Inc. increased its stake in Park Hotels & Resorts by 14.0% in the 1st quarter. BlackRock Inc. now owns 21,489,474 shares of the financial services provider’s stock worth $667,891,000 after purchasing an additional 2,635,511 shares in the last quarter. AJO LP increased its stake in Park Hotels & Resorts by 97.7% in the 1st quarter. AJO LP now owns 4,199,461 shares of the financial services provider’s stock worth $130,519,000 after purchasing an additional 2,075,172 shares in the last quarter. Schroder Investment Management Group increased its stake in Park Hotels & Resorts by 436.5% in the 2nd quarter. Schroder Investment Management Group now owns 2,435,831 shares of the financial services provider’s stock worth $67,132,000 after purchasing an additional 1,981,779 shares in the last quarter. APG Asset Management N.V. increased its stake in Park Hotels & Resorts by 76.2% in the 2nd quarter. APG Asset Management N.V. now owns 3,335,600 shares of the financial services provider’s stock worth $80,725,000 after purchasing an additional 1,443,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Park Hotels & Resorts by 66.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,425,400 shares of the financial services provider’s stock worth $39,284,000 after purchasing an additional 570,900 shares in the last quarter.

A number of equities analysts recently weighed in on the company. Citigroup dropped their price target on Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Friday. Capital One Financial initiated coverage on Park Hotels & Resorts in a research note on Tuesday, June 25th. They set an “overweight” rating and a $34.00 target price on the stock. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Thursday, September 12th. Finally, Deutsche Bank set a $33.00 target price on Park Hotels & Resorts and gave the company a “hold” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.82.

NYSE:PK traded up $0.05 on Friday, hitting $26.00. 4,567,943 shares of the company’s stock traded hands, compared to its average volume of 4,208,935. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56. Park Hotels & Resorts Inc has a 1 year low of $23.02 and a 1 year high of $33.33. The firm has a 50-day moving average price of $24.43 and a 200-day moving average price of $28.29. The company has a market cap of $5.25 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.42). Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The business had revenue of $703.00 million for the quarter, compared to analysts’ expectations of $694.08 million. During the same period last year, the firm earned $0.93 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. On average, research analysts forecast that Park Hotels & Resorts Inc will post 2.87 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, September 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.92%. Park Hotels & Resorts’s dividend payout ratio is 60.81%.

About Park Hotels & Resorts

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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