Wolverine Asset Management LLC Takes $210,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Wolverine Asset Management LLC purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the third quarter, Holdings Channel reports. The firm purchased 14,922 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other large investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 1.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 2,046,671 shares of the financial services provider’s stock worth $28,858,000 after purchasing an additional 24,325 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Park Hotels & Resorts by 21.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 247,327 shares of the financial services provider’s stock worth $3,487,000 after buying an additional 42,905 shares in the last quarter. Covestor Ltd boosted its stake in Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after buying an additional 2,711 shares during the last quarter. Assetmark Inc. grew its holdings in Park Hotels & Resorts by 59.5% in the 3rd quarter. Assetmark Inc. now owns 22,591 shares of the financial services provider’s stock valued at $319,000 after buying an additional 8,429 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth $124,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 2.7 %

Shares of NYSE:PK opened at $14.70 on Friday. The firm has a market capitalization of $3.03 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 1 year low of $13.23 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The firm’s 50-day moving average is $14.34 and its two-hundred day moving average is $14.82.

Park Hotels & Resorts (NYSE:PK) last released 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 business had revenue of $649.00 million for 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%. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Analysts predict that Park Hotels & Resorts Inc. will post 2.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PK shares. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Evercore ISI reduced their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Bank of America lowered 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. Finally, Compass Point decreased their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus target price of $18.00.

Park Hotels & Resorts 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.