17,838 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Bought by BIP Wealth LLC

BIP Wealth LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,838 shares of the financial services provider’s stock, valued at approximately $252,000.

Several other hedge funds have also recently modified their holdings of PK. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its position in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares during the period. Quarry LP lifted its stake in shares of Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares in the last quarter. Claro Advisors LLC bought a new position in Park Hotels & Resorts in the 3rd quarter worth $69,000. Finally, EntryPoint Capital LLC increased its stake in Park Hotels & Resorts by 53.5% in the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,260 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $14.32 on Wednesday. The company has a market cap of $2.96 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.80 and a beta of 2.02. Park Hotels & Resorts Inc. has a one year low of $13.23 and a one year high of $18.05. The business has a fifty day moving average of $14.36 and a two-hundred day moving average of $14.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, analysts predict that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

PK has been the subject of several research reports. Compass Point lowered their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. UBS Group raised their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America reduced their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus price target of $18.09.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.