Truist Financial Lowers Park Hotels & Resorts (NYSE:PK) Price Target to $11.00

Park Hotels & Resorts (NYSE:PK) had its target price decreased by Truist Financial from $12.00 to $11.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential downside of 4.76% from the stock’s current price.

Several other research analysts have also issued reports on PK. Barclays began coverage on shares of Park Hotels & Resorts in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price target for the company. Evercore ISI dropped their target price on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Morgan Stanley set a $10.00 price target on Park Hotels & Resorts in a research note on Friday, January 16th. UBS Group upped their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Zacks Research cut Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $11.27.

Park Hotels & Resorts Stock Performance

PK opened at $11.55 on Tuesday. The stock has a market cap of $2.31 billion, a PE ratio of -165.00 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $13.30. The stock’s 50 day simple moving average is $10.94 and its 200-day simple moving average is $11.01.

Insider Buying and Selling

In other Park Hotels & Resorts news, Director Christie B. Kelly bought 2,949 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were bought at an average price of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the acquisition, the director owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC increased its position in Park Hotels & Resorts by 41.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 20,988 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 6,102 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Park Hotels & Resorts by 21.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 23,367 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 4,051 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Park Hotels & Resorts by 4.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,803 shares of the financial services provider’s stock valued at $1,721,000 after purchasing an additional 6,268 shares in the last quarter. Matthew 25 Management Corp increased its holdings in shares of Park Hotels & Resorts by 61.1% in the fourth quarter. Matthew 25 Management Corp now owns 765,000 shares of the financial services provider’s stock valued at $8,002,000 after purchasing an additional 290,000 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Park Hotels & Resorts by 16.7% in the 4th quarter. QRG Capital Management Inc. now owns 138,788 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 19,851 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.