Raymond James Financial Services Advisors Inc. Buys Shares of 26,881 Park Hotels & Resorts Inc. (PK)

Raymond James Financial Services Advisors Inc. bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,881 shares of the financial services provider’s stock, valued at approximately $741,000.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Park Hotels & Resorts by 61.5% during the 2nd quarter. Wells Fargo & Company MN now owns 91,068 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 34,672 shares during the last quarter. Sentry Investments Corp. acquired a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at about $11,210,000. Prudential Financial Inc. increased its holdings in shares of Park Hotels & Resorts by 135.5% during the 2nd quarter. Prudential Financial Inc. now owns 3,296,991 shares of the financial services provider’s stock valued at $88,886,000 after acquiring an additional 1,896,731 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Park Hotels & Resorts by 30.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 146,458 shares of the financial services provider’s stock valued at $3,949,000 after acquiring an additional 34,503 shares during the last quarter. Finally, Westpac Banking Corp increased its holdings in shares of Park Hotels & Resorts by 17.6% during the 2nd quarter. Westpac Banking Corp now owns 213,753 shares of the financial services provider’s stock valued at $5,763,000 after acquiring an additional 32,036 shares during the last quarter. 99.14% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on PK. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a report on Monday. Zacks Investment Research lowered Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Boenning Scattergood reissued a “buy” rating on shares of Park Hotels & Resorts in a report on Monday, November 6th. Finally, Nomura increased their price objective on Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, November 6th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Park Hotels & Resorts presently has a consensus rating of “Hold” and an average price target of $34.87.

Park Hotels & Resorts Inc. (PK) traded up $0.18 on Monday, reaching $28.99. The company’s stock had a trading volume of 595,647 shares, compared to its average volume of 1,988,496. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.50. Park Hotels & Resorts Inc. has a 12-month low of $24.65 and a 12-month high of $33.40.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $676.76 million. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. research analysts expect that Park Hotels & Resorts Inc. will post 2.74 EPS for the current fiscal year.

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Park Hotels & Resorts Profile

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)

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