Quantinno Capital Management LP Has $21.86 Million Stock Position in Park Hotels & Resorts Inc. $PK

Key Points

• Quantinno Capital Management increased its Park Hotels & Resorts stake by 58.8% in the first quarter, purchasing 768,369 additional shares. Its position totaled 2.08 million shares, valued at approximately $21.86 million, or 1.03% of the company.
• Park Hotels & Resorts reported quarterly revenue of $622 million, exceeding estimates, but earnings per share of $0.05 fell well short of the $0.38 consensus. Revenue declined 1.3% year over year, while the company posted negative net margin and return on equity.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $13.18, below its reported $15.05 opening price. Institutional investors and hedge funds collectively own 92.69% of the shares.

Quantinno Capital Management LP increased its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 58.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,075,796 shares of the financial services provider's stock after purchasing an additional 768,369 shares during the quarter. Quantinno Capital Management LP owned approximately 1.03% of Park Hotels & Resorts worth $21,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Danske Bank A S acquired a new position in shares of Park Hotels & Resorts in the third quarter worth about $25,000. Fifth Third Bancorp raised its holdings in shares of Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 1,061 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter valued at approximately $34,000. Harbor Capital Advisors Inc. lifted its position in shares of Park Hotels & Resorts by 293.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 3,863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Park Hotels & Resorts by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

PK stock opened at $15.05 on Friday. The firm has a 50 day simple moving average of $14.19 and a 200 day simple moving average of $12.17. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $15.48. The stock has a market cap of $3.03 billion, a P/E ratio of -13.81, a P/E/G ratio of 1.99 and a beta of 1.33. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. During the same quarter in the prior year, the company posted $0.46 EPS. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Park Hotels & Resorts Inc. will post 1.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of 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. LADENBURG THALM/SH SH increased their target price on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $12.00 target price on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. Wells Fargo & Company raised Park Hotels & Resorts to a "hold" rating in a research report on Thursday, July 23rd. Finally, Barclays lifted their price target on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of "Reduce" and an average target price of $13.18.

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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