Dimensional Fund Advisors LP Has $29.85 Million Stake in Park Hotels & Resorts Inc. $PK

Key Points

• Dimensional Fund Advisors increased its Park Hotels & Resorts stake by 3.7% in the first quarter, owning 2.83 million shares valued at approximately $29.85 million, or 1.41% of the company.
• Institutional investors and hedge funds collectively own 92.69% of Park Hotels & Resorts; Millennium Management made the largest reported increase, boosting its position by 849.3%.
• Analyst sentiment remains cautious, with the stock carrying an average “Reduce” rating and a $13.18 average price target, despite shares opening at $15.02 and trading near their 52-week high.

Dimensional Fund Advisors LP increased its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,834,320 shares of the financial services provider's stock after acquiring an additional 102,160 shares during the quarter. Dimensional Fund Advisors LP owned 1.41% of Park Hotels & Resorts worth $29,847,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PK. Amundi grew its holdings in Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider's stock worth $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC raised its holdings in shares of Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider's stock valued at $5,595,000 after purchasing an additional 468,668 shares during the period. United Services Automobile Association acquired a new position in shares of Park Hotels & Resorts during the first quarter valued at about $152,000. Empowered Funds LLC boosted its position in shares of Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider's stock worth $239,000 after purchasing an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth grew its stake in shares of Park Hotels & Resorts by 30.6% in the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider's stock valued at $199,000 after buying an additional 4,374 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

PK has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH boosted their target price on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. raised their price objective on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Cantor Fitzgerald restated a "neutral" rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Morgan Stanley upped their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an "equal weight" rating in a research report on Friday, July 17th. Finally, Weiss Ratings raised shares of Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $13.18.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $15.02 on Wednesday. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $15.48. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -13.78, a PEG ratio of 2.00 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. The firm's 50-day simple moving average is $14.33 and its 200 day simple moving average is $12.22.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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