Park Hotels & Resorts (NYSE:PK) Price Target Raised to $11.00 at JPMorgan Chase & Co.

Park Hotels & Resorts (NYSE:PK) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $10.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.04% from the company’s current price.

A number of other brokerages have also issued reports on PK. Truist Financial reduced their target price on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday. Barclays initiated coverage on Park Hotels & Resorts in a research report on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price target for the company. Evercore ISI dropped their price target on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Finally, Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research note on Friday, January 16th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $11.27.

Park Hotels & Resorts Stock Up 0.5%

Shares of PK traded up $0.06 during midday trading on Tuesday, hitting $11.00. 1,104,525 shares of the company’s stock traded hands, compared to its average volume of 4,025,901. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -157.03 and a beta of 1.45. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $13.30. The firm’s fifty day moving average is $10.92 and its 200-day moving average is $11.01.

Insider Buying and Selling at Park Hotels & Resorts

In related news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the acquisition, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Park Hotels & Resorts

Large investors have recently made changes to their positions in the stock. Amundi lifted its holdings in Park Hotels & Resorts by 1.9% during the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 2,179 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Park Hotels & Resorts by 849.3% in the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after buying an additional 468,668 shares during the period. United Services Automobile Association acquired a new position in shares of Park Hotels & Resorts during the first quarter worth about $152,000. Empowered Funds LLC raised its holdings in Park Hotels & Resorts by 10.1% in the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in shares of Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 4,374 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.