Park Hotels & Resorts (NYSE:PK) Upgraded to “Hold” at StockNews.com

Park Hotels & Resorts (NYSE:PK – Get Rating) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Park Hotels & Resorts from $26.00 to $28.00 in a report on Tuesday, May 3rd. Truist Financial upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and upped their target price for the company from $19.00 to $22.00 in a report on Wednesday, June 1st. Evercore ISI reiterated an “in-line” rating and issued a $22.50 target price on shares of Park Hotels & Resorts in a report on Monday, July 11th. Finally, Barclays dropped their price objective on Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $21.44.

Park Hotels & Resorts Price Performance

PK stock opened at $15.05 on Friday. The firm has a fifty day moving average price of $15.23 and a two-hundred day moving average price of $17.45. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -68.41 and a beta of 1.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.26 and a quick ratio of 3.02. Park Hotels & Resorts has a 1-year low of $12.90 and a 1-year high of $21.62.

Insiders Place Their Bets

In related news, Director Thomas D. Eckert acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were bought at an average price of $15.12 per share, for a total transaction of $151,200.00. Following the purchase, the director now directly owns 96,637 shares in the company, valued at approximately $1,461,151.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. boosted its stake in Park Hotels & Resorts by 305.1% in the first quarter. DigitalBridge Group Inc. now owns 2,509,570 shares of the financial services provider’s stock valued at $5,947,000 after buying an additional 1,890,070 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Park Hotels & Resorts by 87.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,698,915 shares of the financial services provider’s stock worth $72,239,000 after purchasing an additional 1,729,984 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Park Hotels & Resorts by 45.0% in the fourth quarter. JPMorgan Chase & Co. now owns 5,416,035 shares of the financial services provider’s stock valued at $102,254,000 after acquiring an additional 1,680,145 shares during the period. Lasalle Investment Management Securities LLC purchased a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $31,634,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Park Hotels & Resorts by 473.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,942,341 shares of the financial services provider’s stock worth $36,671,000 after purchasing an additional 1,603,852 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

About Park Hotels & Resorts

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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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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