Park Hotels & Resorts Inc. (NYSE:PK) Receives $11.27 Consensus Price Target from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned an average recommendation of “Reduce” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $11.2727.

PK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. Morgan Stanley set a $10.00 price objective on Park Hotels & Resorts in a research report on Friday, January 16th. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Truist Financial dropped their price target on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, February 3rd. Finally, Barclays began coverage on Park Hotels & Resorts in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price objective on the stock.

Insider Activity

In other news, Director Christie B. Kelly acquired 2,949 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was acquired at an average price of $11.19 per share, with a total value of $32,999.31. Following the completion of the transaction, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. This represents a 2.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Park Hotels & Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Danske Bank A S acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $25,000. Parvin Asset Management LLC purchased a new position in Park Hotels & Resorts during the second quarter worth about $26,000. Bessemer Group Inc. boosted its stake in Park Hotels & Resorts by 359.3% in the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after buying an additional 2,411 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $34,000. Finally, IFP Advisors Inc grew its holdings in Park Hotels & Resorts by 469.0% in the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock valued at $35,000 after buying an additional 2,856 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Down 1.9%

Shares of PK stock opened at $11.21 on Thursday. The stock has a market cap of $2.24 billion, a P/E ratio of -160.07 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $13.22. The business has a fifty day simple moving average of $11.07 and a 200-day simple moving average of $11.04.

Park Hotels & Resorts Company 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.