Park Hotels & Resorts Inc. (NYSE:PK) Director Stephen I. Sadove acquired 9,600 shares of Park Hotels & Resorts stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $25.97 per share, for a total transaction of $249,312.00. Following the completion of the purchase, the director now directly owns 20,151 shares in the company, valued at $523,321.47. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Park Hotels & Resorts Inc. (NYSE:PK) traded down 1.54% during midday trading on Tuesday, reaching $26.25. The company’s stock had a trading volume of 1,893,748 shares. The stock has a 50 day moving average of $27.03 and a 200 day moving average of $26.56. Park Hotels & Resorts Inc. has a 52 week low of $24.65 and a 52 week high of $30.74. The firm has a market capitalization of $5.64 billion and a PE ratio of 2.25.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. The business had revenue of $733 million for the quarter, compared to the consensus estimate of $716.51 million. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that Park Hotels & Resorts Inc. will post $11.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors 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 yield of 6.55%.

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A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its stake in shares of Park Hotels & Resorts by 135.5% in the second quarter. Prudential Financial Inc. now owns 3,296,991 shares of the financial services provider’s stock valued at $88,886,000 after buying an additional 1,896,731 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Park Hotels & Resorts by 130.4% in the second quarter. Principal Financial Group Inc. now owns 3,230,782 shares of the financial services provider’s stock valued at $87,102,000 after buying an additional 1,828,408 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of 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 last quarter. Marshall Wace North America L.P. increased its stake in shares of Park Hotels & Resorts by 195.5% in the second quarter. Marshall Wace North America L.P. now owns 1,010,988 shares of the financial services provider’s stock valued at $27,297,000 after buying an additional 668,861 shares during the last quarter. Finally, APG Asset Management US Inc. increased its stake in shares of Park Hotels & Resorts by 66.3% in the second quarter. APG Asset Management US Inc. now owns 1,550,000 shares of the financial services provider’s stock valued at $41,788,000 after buying an additional 618,229 shares during the last quarter. Hedge funds and other institutional investors own 97.07% of the company’s stock.

PK has been the topic of several recent research reports. Zacks Investment Research raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday. Canaccord Genuity reduced their price target on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday. Boenning Scattergood set a $29.00 price target on Park Hotels & Resorts and gave the stock a “buy” rating in a research report on Friday. Jefferies Group LLC boosted their price target on Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, June 20th. Finally, Cowen and Company boosted their price target on Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 20th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $34.80.

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.

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