Park Hotels & Resorts Inc. (PK) Shares Bought by Pekin Singer Strauss Asset Management IL

Pekin Singer Strauss Asset Management IL raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 36,581 shares of the financial services provider’s stock after buying an additional 16 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Park Hotels & Resorts were worth $986,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Park Hotels & Resorts by 9.0% in the second quarter. Rhumbline Advisers now owns 140,818 shares of the financial services provider’s stock valued at $3,796,000 after buying an additional 11,593 shares during the period. Teacher Retirement System of Texas raised its stake in Park Hotels & Resorts by 9.2% in the second quarter. Teacher Retirement System of Texas now owns 10,437 shares of the financial services provider’s stock valued at $281,000 after buying an additional 878 shares during the period. First Trust Advisors LP raised its stake in Park Hotels & Resorts by 15.8% in the second quarter. First Trust Advisors LP now owns 207,379 shares of the financial services provider’s stock valued at $5,591,000 after buying an additional 28,280 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Park Hotels & Resorts by 21.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,692 shares of the financial services provider’s stock valued at $585,000 after buying an additional 3,808 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Park Hotels & Resorts by 278.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,219,821 shares of the financial services provider’s stock valued at $32,887,000 after buying an additional 897,527 shares during the period. 97.07% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Inc. (PK) opened at 26.10 on Friday. Park Hotels & Resorts Inc. has a 52-week low of $24.65 and a 52-week high of $30.74. The company has a market capitalization of $5.61 billion and a P/E ratio of 2.24. The firm has a 50-day moving average price of $26.83 and a 200 day moving average price of $26.56.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $733 million during the quarter, compared to analysts’ expectations of $716.51 million. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Park Hotels & Resorts Inc. will post $11.93 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend is Thursday, September 28th.

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Several analysts recently weighed in on the company. Zacks Investment Research raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday. Canaccord Genuity reduced their price objective on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Boenning Scattergood set a $29.00 price objective on Park Hotels & Resorts and gave the company a “buy” rating in a research note on Friday, August 4th. Jefferies Group LLC raised their price objective on Park Hotels & Resorts from $58.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, June 20th. Finally, Cowen and Company raised their price objective on Park Hotels & Resorts from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, June 20th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Park Hotels & Resorts currently has an average rating of “Hold” and an average price target of $34.80.

In related news, Director Stephen I. Sadove bought 9,600 shares of the stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $25.97 per share, with a total value of $249,312.00. Following the purchase, the director now owns 20,151 shares in the company, valued at approximately $523,321.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total value of $390,750,000.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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