MQS Management LLC Invests $563,000 in Park Hotels & Resorts Inc. (NYSE:PK)

MQS Management LLC bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the third quarter, Holdings Channel.com reports. The fund bought 39,914 shares of the financial services provider’s stock, valued at approximately $563,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in Park Hotels & Resorts during the 3rd quarter valued at $33,000. Venturi Wealth Management LLC grew its stake in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,841 shares during the period. Quarry LP grew its stake in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,857 shares during the period. Claro Advisors LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $69,000. Finally, Covestor Ltd lifted its holdings in Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 0.8 %

PK stock opened at $15.10 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $14.32 and its 200 day moving average is $14.83. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.82 and a beta of 2.02. Park Hotels & Resorts Inc. has a 1-year low of $12.96 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 9.63% and a net margin of 12.66%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PK. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Truist Financial lowered their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Compass Point lowered their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI decreased their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, Bank of America cut their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.00.

Park Hotels & Resorts 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.