Park Hotels & Resorts Inc. (NYSE:PK) Given Average Recommendation of “Reduce” by Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received a consensus recommendation of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $11.2727.

Several equities analysts have recently issued reports on PK shares. Zacks Research lowered Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. Morgan Stanley set a $10.00 target price on Park Hotels & Resorts in a research note on Friday, January 16th. JPMorgan Chase & Co. increased their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. Barclays assumed coverage on shares of Park Hotels & Resorts in a report on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price target on the stock. Finally, Evercore dropped their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, November 20th.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $11.70 on Thursday. The firm’s 50 day simple moving average is $11.02 and its 200 day simple moving average is $11.03. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -167.20 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $13.22.

Insider Transactions at Park Hotels & Resorts

In related news, Director Christie B. Kelly acquired 2,949 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the acquisition, the director directly owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in Park Hotels & Resorts by 0.5% during the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock worth $1,969,000 after acquiring an additional 968 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Park Hotels & Resorts by 0.8% in the third quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock worth $1,386,000 after buying an additional 1,038 shares during the last quarter. Optas LLC boosted its stake in Park Hotels & Resorts by 12.8% during the fourth quarter. Optas LLC now owns 11,389 shares of the financial services provider’s stock worth $119,000 after buying an additional 1,295 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,464 shares during the period. Finally, Kera Capital Partners Inc. increased its position in Park Hotels & Resorts by 13.3% during the third quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 1,714 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.