13,284 Shares in Park Hotels & Resorts Inc. (PK) Purchased by People s United Financial Inc.

People s United Financial Inc. acquired a new position in Park Hotels & Resorts Inc. (NYSE:PK) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,284 shares of the financial services provider’s stock, valued at approximately $358,000.

Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in Park Hotels & Resorts by 3,050.7% in the 2nd quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock worth $129,000 after buying an additional 4,637 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Park Hotels & Resorts by 53.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after buying an additional 2,080 shares in the last quarter. QS Investors LLC lifted its holdings in Park Hotels & Resorts by 0.3% in the 2nd quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock worth $203,000 after buying an additional 22 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Park Hotels & Resorts by 148.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock worth $242,000 after buying an additional 5,360 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Park Hotels & Resorts by 7.1% in the 2nd quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after buying an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Shares of Park Hotels & Resorts Inc. (NYSE:PK) opened at 27.74 on Friday. Park Hotels & Resorts Inc. has a 52 week low of $25.40 and a 52 week high of $30.74. The stock has a 50 day moving average of $27.38 and a 200-day moving average of $27.38. The firm has a market cap of $5.96 billion and a price-to-earnings ratio of 2.38.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $733.00 million for the quarter, compared to the consensus estimate of $716.51 million. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that Park Hotels & Resorts Inc. will post $12.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Thursday, September 28th.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://transcriptdaily.com/2017/10/08/13284-shares-in-park-hotels-resorts-inc-pk-purchased-by-people-s-united-financial-inc.html.

A number of equities analysts have commented on the stock. Boenning Scattergood set a $29.00 price objective on shares of Park Hotels & Resorts and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity cut their target price on shares of Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. J P Morgan Chase & Co began coverage on shares of Park Hotels & Resorts in a research note on Thursday, June 15th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Cowen and Company upped their target price on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, June 20th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $34.80.

In other Park Hotels & Resorts news, Director Stephen I. Sadove acquired 9,600 shares of Park Hotels & Resorts stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $25.97 per share, with a total value of $249,312.00. Following the acquisition, the director now owns 20,151 shares of the company’s stock, valued at $523,321.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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

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

Leave a Reply