LS Investment Advisors LLC Buys New Stake in Park Hotels & Resorts Inc (NYSE:PK)

LS Investment Advisors LLC bought a new stake in shares of Park Hotels & Resorts Inc (NYSE:PK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,782 shares of the financial services provider’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. grew its stake in shares of Park Hotels & Resorts by 9.5% in the 2nd quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock worth $697,512,000 after buying an additional 2,199,863 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Park Hotels & Resorts by 436.5% during 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 during the period. Brookfield Asset Management Inc. boosted its stake in shares of Park Hotels & Resorts by 39.8% during the 2nd quarter. Brookfield Asset Management Inc. now owns 6,036,967 shares of the financial services provider’s stock worth $166,379,000 after purchasing an additional 1,720,152 shares during the period. APG Asset Management N.V. boosted its stake in shares of Park Hotels & Resorts by 76.2% during 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 during the period. Finally, BlackRock Inc. boosted its stake in shares of Park Hotels & Resorts by 4.9% during the 2nd quarter. BlackRock Inc. now owns 22,543,403 shares of the financial services provider’s stock worth $621,297,000 after purchasing an additional 1,053,929 shares during the period.

PK opened at $23.02 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a fifty day moving average price of $24.00 and a 200 day moving average price of $26.46. Park Hotels & Resorts Inc has a 1 year low of $22.38 and a 1 year high of $33.02. The stock has a market cap of $4.67 billion, a P/E ratio of 7.78, a P/E/G ratio of 2.18 and a beta of 1.30.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $23.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, September 24th. Nomura decreased their price objective on shares of Park Hotels & Resorts from $33.00 to $29.00 and set a “buy” rating for the company in a report on Friday, October 11th. BMO Capital Markets assumed coverage on shares of Park Hotels & Resorts in a report on Wednesday, October 16th. They set a “market perform” rating and a $25.00 price objective for the company. Barclays reiterated an “overweight” rating and set a $30.00 price objective on shares of Park Hotels & Resorts in a report on Friday, September 27th. Finally, UBS Group set a $24.00 price objective on shares of Park Hotels & Resorts and gave the company a “hold” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.33.

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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