Mutual of America Capital Management LLC Sells 7,668 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Mutual of America Capital Management LLC decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 6.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 112,910 shares of the financial services provider’s stock after selling 7,668 shares during the period. Mutual of America Capital Management LLC’s holdings in Park Hotels & Resorts were worth $1,592,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Lazard Asset Management LLC raised its position in shares of Park Hotels & Resorts by 5.5% in the first quarter. Lazard Asset Management LLC now owns 36,704 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 1,922 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Park Hotels & Resorts by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,390 shares of the financial services provider’s stock worth $1,756,000 after acquiring an additional 6,067 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Park Hotels & Resorts by 6.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,058,418 shares of the financial services provider’s stock worth $18,512,000 after acquiring an additional 63,683 shares during the last quarter. Tidal Investments LLC boosted its holdings in Park Hotels & Resorts by 17.9% during the first quarter. Tidal Investments LLC now owns 14,060 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 2,131 shares during the period. Finally, EMC Capital Management acquired a new stake in shares of Park Hotels & Resorts in the first quarter valued at about $351,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial decreased their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company cut their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus price target of $18.09.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $15.50 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $14.43 and a 200 day moving average price of $14.73. The firm has a market capitalization of $3.20 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 12-month low of $13.23 and a 12-month 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 analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Research analysts anticipate that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current fiscal year.

Park Hotels & Resorts Company 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.