Park Hotels & Resorts (NYSE:PK – Get a Rating) was downgraded by equity research analysts BMO Capital Markets from an “outperforming” rating to a “market performing” rating in a research note released Tuesday to investors, reports The Fly.
Other analysts have also recently released reports on the stock. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a Friday, Aug. 5 report. Barclays lowered its price target on shares of Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating on the stock in a Thursday, July 7 report. Evercore ISI reaffirmed an “online” rating and issued a $22.50 price target on Park Hotels & Resorts stock in a research report on Monday, July 11. Deutsche Bank Aktiengesellschaft raised its price target on shares of Park Hotels & Resorts from $26.00 to $28.00 in a Tuesday, May 3 research report. Finally, Truist Financial moved Park Hotels & Resorts shares from a “hold” rating to a “buy” rating and raised its price target for the company from $19.00 to $22.00 in a report. research on Wednesday, June 1. One analyst has assigned the stock a sell rating, ten have issued a hold rating and one has assigned the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.83.
Park Hotels & Resorts inventories down 0.9%
Shares of Park Hotels & Resorts opened at $15.90 on Tuesday. The company has a debt ratio of 1.09, a current ratio of 3.26 and a quick ratio of 3.26. Park Hotels & Resorts has a 1-year minimum of $12.90 and a 1-year maximum of $21.62. The company’s 50-day moving average is $14.88 and its two-hundred-day moving average is $17.35. The stock has a market capitalization of $3.71 billion, a price-earnings ratio of -72.27 and a beta of 1.94.
Insiders place their bets
In other Park Hotels & Resorts news, Director Thomas D. Eckert purchased 10,000 shares of Park Hotels & Resorts in a trade on Tuesday, June 14. The stock was purchased at an average cost of $15.12 per share, with a total value of $151,200.00. Following the transaction, the director now owns 96,637 shares of the company, valued at approximately $1,461,151.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. 1.09% of the shares are currently held by insiders.
Institutional investors weigh in on Park Hotels & Resorts
A number of hedge funds and other institutional investors have recently changed their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Park Hotels & Resorts in Q4 valued at $470,000. The New York State Common Retirement Fund increased its stake in Park Hotels & Resorts by 15.4% in the 4th quarter. The New York State Common Retirement Fund now owns 256,669 shares of the financial services provider valued at $4,846,000 after acquiring an additional 34,266 shares during the period. Mutual of America Capital Management LLC increased its stake in Park Hotels & Resorts by 1.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 211,513 shares of the financial services provider valued at $3,993,000 after acquiring an additional 3,022 shares during the period. Advisor Group Holdings Inc. increased its stake in Park Hotels & Resorts by 62.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 81,055 shares of the financial services provider valued at $1,531,000 after acquiring an additional 31,066 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Park Hotels & Resorts by 19.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 28,899 shares of the financial services provider valued at $546,000 after acquiring an additional 4,668 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s shares.
About Park Hotels & Resorts
(Get a rating)
Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium branded hotels and resorts with over 33,000 rooms primarily located in prime city centers and resorts.
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