Globeflex Capital L P Invests $252,000 in Park Hotels & Resorts Inc (PK)

Globeflex Capital L P purchased a new position in Park Hotels & Resorts Inc (NYSE:PK) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,674 shares of the financial services provider’s stock, valued at approximately $252,000.

Several other large investors have also added to or reduced their stakes in PK. BlackRock Inc. grew its holdings in shares of Park Hotels & Resorts by 4.6% during the third quarter. BlackRock Inc. now owns 16,998,104 shares of the financial services provider’s stock valued at $557,876,000 after purchasing an additional 741,598 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of Park Hotels & Resorts by 105.1% during the third quarter. Martingale Asset Management L P now owns 1,045,903 shares of the financial services provider’s stock valued at $34,328,000 after purchasing an additional 535,979 shares during the last quarter. CI Investments Inc. grew its holdings in shares of Park Hotels & Resorts by 4.0% during the third quarter. CI Investments Inc. now owns 340,000 shares of the financial services provider’s stock valued at $11,159,000 after purchasing an additional 13,200 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Park Hotels & Resorts by 100.3% during the third quarter. Janus Henderson Group PLC now owns 53,183 shares of the financial services provider’s stock valued at $1,746,000 after purchasing an additional 26,636 shares during the last quarter. Finally, AXA grew its holdings in shares of Park Hotels & Resorts by 9.1% during the third quarter. AXA now owns 391,600 shares of the financial services provider’s stock valued at $12,852,000 after purchasing an additional 32,600 shares during the last quarter.

Several research firms have recently commented on PK. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday. SunTrust Banks reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Barclays reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Evercore ISI downgraded Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. Finally, Wells Fargo & Co reduced their price objective on Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating for the company in a research report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.72.

Shares of NYSE:PK opened at $30.20 on Friday. Park Hotels & Resorts Inc has a one year low of $23.91 and a one year high of $34.27. The firm has a market cap of $6.10 billion, a PE ratio of 10.86, a P/E/G ratio of 2.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.55 and a quick ratio of 1.55.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.38). Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.27%. The company had revenue of $652.00 million for the quarter, compared to analyst estimates of $656.61 million. During the same quarter last year, the company posted $0.66 EPS. Park Hotels & Resorts’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that Park Hotels & Resorts Inc will post 2.84 EPS for the current year.

WARNING: “Globeflex Capital L P Invests $252,000 in Park Hotels & Resorts Inc (PK)” was originally published by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.wkrb13.com/2018/11/24/globeflex-capital-l-p-invests-252000-in-park-hotels-resorts-inc-pk.html.

Park Hotels & Resorts Company Profile

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.

Featured Article: Outstanding Shares, Buying and Selling Stocks

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

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply