Park Hotels & Resorts Inc (PK) Shares Bought by People s United Financial Inc.

People s United Financial Inc. increased its position in Park Hotels & Resorts Inc (NYSE:PK) by 91.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,219 shares of the financial services provider’s stock after buying an additional 26,409 shares during the quarter. People s United Financial Inc.’s holdings in Park Hotels & Resorts were worth $1,812,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PK. BlackRock Inc. lifted its holdings in shares of Park Hotels & Resorts by 17.1% in the second quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock valued at $497,938,000 after buying an additional 2,368,733 shares during the period. American Century Companies Inc. lifted its holdings in shares of Park Hotels & Resorts by 128.2% in the second quarter. American Century Companies Inc. now owns 2,234,322 shares of the financial services provider’s stock valued at $68,437,000 after buying an additional 1,255,290 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Park Hotels & Resorts by 12.3% in the third quarter. JPMorgan Chase & Co. now owns 9,828,336 shares of the financial services provider’s stock valued at $322,567,000 after buying an additional 1,078,962 shares during the period. Prudential Financial Inc. raised its position in shares of Park Hotels & Resorts by 118.8% during the third quarter. Prudential Financial Inc. now owns 1,980,180 shares of the financial services provider’s stock worth $64,989,000 after purchasing an additional 1,075,294 shares during the period. Finally, FMR LLC raised its position in shares of Park Hotels & Resorts by 79.8% during the second quarter. FMR LLC now owns 2,191,628 shares of the financial services provider’s stock worth $67,129,000 after purchasing an additional 972,541 shares during the period.

PK has been the topic of a number of recent analyst reports. Nomura boosted their target price on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, November 2nd. Deutsche Bank set a $32.00 target price on Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Saturday, November 3rd. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Evercore ISI lowered Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. Finally, Wells Fargo & Co cut their target price on Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating on the stock in a research report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $31.72.

Shares of Park Hotels & Resorts stock opened at $30.66 on Friday. The firm has a market cap of $6.10 billion, a PE ratio of 11.03, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. Park Hotels & Resorts Inc has a 12-month low of $23.91 and a 12-month high of $34.27.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.38). The company had revenue of $652.00 million for the quarter, compared to analyst estimates of $656.61 million. Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Equities research 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 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 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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