Numeric Investors LLC Takes Position in Park Hotels & Resorts Inc. (PK)

Numeric Investors LLC purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the second quarter, according to its most recent filing with the SEC. The firm purchased 29,800 shares of the financial services provider’s stock, valued at approximately $803,000.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of Park Hotels & Resorts by 3,050.7% during the 2nd quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 4,637 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Park Hotels & Resorts by 53.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,080 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Park Hotels & Resorts by 148.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 5,360 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Park Hotels & Resorts by 7.1% during the 2nd quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 624 shares during the last quarter. Finally, Federated Investors Inc. PA raised its position in shares of Park Hotels & Resorts by 4,029.2% during the 2nd quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 9,509 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.

Shares of Park Hotels & Resorts Inc. (NYSE:PK) opened at 28.55 on Friday. The stock has a market capitalization of $6.13 billion and a PE ratio of 2.45. The company’s 50-day moving average is $27.51 and its 200-day moving average is $27.51. Park Hotels & Resorts Inc. has a 12 month low of $25.40 and a 12 month high of $30.74.

Park Hotels & Resorts (NYSE:PK) last released its earnings results 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 company had revenue of $733.00 million during the quarter, compared to analysts’ expectations of $716.51 million. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that Park Hotels & Resorts Inc. will post $12.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.72 annualized dividend and a dividend yield of 6.02%.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Canaccord Genuity lowered their target price on shares of Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 4th. J P Morgan Chase & Co assumed coverage on shares of Park Hotels & Resorts in a research note on Thursday, June 15th. They issued an “overweight” rating and a $30.00 target price for the company. Cowen and Company lifted their target price on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC lifted their target price on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, June 20th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.80.

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In other Park Hotels & Resorts news, Director Stephen I. Sadove purchased 9,600 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were bought at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the purchase, the director now directly owns 20,151 shares in the company, valued at approximately $523,321.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

About Park Hotels & Resorts

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.

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

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