Park Hotels & Resorts Inc (PK) Shares Bought by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL grew its holdings in shares of Park Hotels & Resorts Inc (NYSE:PK) by 48.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 343,500 shares of the financial services provider’s stock after buying an additional 112,300 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Park Hotels & Resorts were worth $11,274,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at approximately $478,000. Cadence Capital Management LLC purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at approximately $329,000. Daiwa Securities Group Inc. boosted its stake in shares of Park Hotels & Resorts by 3.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,350,835 shares of the financial services provider’s stock valued at $142,795,000 after buying an additional 158,192 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at approximately $11,142,000. Finally, US Bancorp DE boosted its stake in shares of Park Hotels & Resorts by 11.6% during the 3rd quarter. US Bancorp DE now owns 33,607 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 3,484 shares during the last quarter.

Several equities analysts have recently commented on the company. Zacks Investment Research cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. SunTrust Banks reiterated a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Jefferies Financial Group set a $38.00 target price on Park Hotels & Resorts and gave the company a “buy” rating in a research note on Friday, August 3rd. Evercore ISI cut Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Finally, Deutsche Bank set a $32.00 price objective on Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Saturday, November 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Park Hotels & Resorts has an average rating of “Hold” and an average target price of $32.06.

Shares of PK opened at $30.87 on Friday. Park Hotels & Resorts Inc has a 12-month low of $23.91 and a 12-month high of $34.27. The firm has a market cap of $5.97 billion, a P/E ratio of 11.10, a PEG ratio of 2.20 and a beta of 0.97. The company has a current ratio of 1.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.38). Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. The firm had revenue of $652.00 million for the quarter, compared to the consensus estimate of $656.61 million. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts predict that Park Hotels & Resorts Inc will post 2.84 EPS for the current fiscal year.

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About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority 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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