Short Interest in Park Hotels & Resorts Inc (NYSE:PK) Decreases By 36.6%

Park Hotels & Resorts Inc (NYSE:PK) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 6,368,500 shares, a decrease of 36.6% from the July 31st total of 10,038,300 shares. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 3.2% of the shares of the company are short sold.

Shares of NYSE PK traded up $0.43 during trading on Wednesday, hitting $25.72. 2,408,900 shares of the company were exchanged, compared to its average volume of 1,718,799. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.74 and a quick ratio of 1.74. Park Hotels & Resorts has a 1 year low of $23.02 and a 1 year high of $33.81. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 2.24 and a beta of 1.31. The firm’s fifty day moving average price is $24.50 and its 200 day moving average price is $28.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). The company had revenue of $703.00 million during the quarter, compared to analysts’ expectations of $694.08 million. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, research analysts forecast that Park Hotels & Resorts will post 2.87 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Meridian Wealth Management LLC purchased a new stake in shares of Park Hotels & Resorts during the 1st quarter worth approximately $32,000. Advisory Services Network LLC raised its holdings in Park Hotels & Resorts by 68.5% during the second quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 584 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Park Hotels & Resorts by 188.7% during the second quarter. Golden State Wealth Management LLC now owns 1,836 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,200 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Park Hotels & Resorts during the first quarter worth $56,000. Finally, NEXT Financial Group Inc boosted its position in Park Hotels & Resorts by 4,000.0% during the second quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,000 shares in the last quarter.

PK has been the topic of several analyst reports. UBS Group set a $24.00 target price on shares of Park Hotels & Resorts and gave the company a “hold” rating in a report on Friday, August 16th. Capital One Financial started coverage on shares of Park Hotels & Resorts in a report on Tuesday, June 25th. They set an “overweight” rating and a $34.00 price target for the company. TheStreet downgraded shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a research report on Wednesday, June 5th. Citigroup lowered their price objective on Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.80.

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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