United Asset Strategies Inc. Invests $4.74 Million in Park Hotels & Resorts Inc (NYSE:PK)

United Asset Strategies Inc. purchased a new position in Park Hotels & Resorts Inc (NYSE:PK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 171,800 shares of the financial services provider’s stock, valued at approximately $4,735,000. United Asset Strategies Inc. owned about 0.09% of Park Hotels & Resorts at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Park Hotels & Resorts by 14.0% during the 1st quarter. BlackRock Inc. now owns 21,489,474 shares of the financial services provider’s stock valued at $667,891,000 after purchasing an additional 2,635,511 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Park Hotels & Resorts by 7.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,985,066 shares of the financial services provider’s stock valued at $137,388,000 after purchasing an additional 324,367 shares during the last quarter. AJO LP grew its holdings in shares of Park Hotels & Resorts by 97.7% during the 1st quarter. AJO LP now owns 4,199,461 shares of the financial services provider’s stock valued at $130,519,000 after purchasing an additional 2,075,172 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Park Hotels & Resorts by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 3,465,458 shares of the financial services provider’s stock valued at $90,408,000 after purchasing an additional 179,982 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Park Hotels & Resorts by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,106,566 shares of the financial services provider’s stock valued at $80,708,000 after purchasing an additional 300,624 shares during the last quarter.

Park Hotels & Resorts stock traded up $0.01 during trading hours on Tuesday, reaching $24.16. The stock had a trading volume of 48,170 shares, compared to its average volume of 1,869,746. The stock has a market cap of $4.84 billion, a PE ratio of 8.17, a PEG ratio of 2.19 and a beta of 1.26. Park Hotels & Resorts Inc has a 52 week low of $23.72 and a 52 week high of $34.27. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $26.50.

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 analysts’ consensus estimates of $0.82 by ($0.42). The firm had revenue of $703.00 million during the quarter, compared to the consensus estimate of $694.08 million. Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. Park Hotels & Resorts’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. Research analysts predict that Park Hotels & Resorts Inc will post 2.87 EPS for the current year.

Several equities analysts recently commented on the stock. TheStreet lowered shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a report on Wednesday, June 5th. Deutsche Bank set a $33.00 target price on shares of Park Hotels & Resorts and gave the company a “hold” rating in a report on Wednesday, July 31st. Capital One Financial assumed coverage on shares of Park Hotels & Resorts in a report on Tuesday, June 25th. They issued an “overweight” rating and a $34.00 price target on the stock. Finally, Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $32.38.

Park Hotels & Resorts Profile

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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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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