Hsbc Holdings PLC boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 77.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 320,515 shares of the financial services provider’s stock after buying an additional 140,029 shares during the quarter. Hsbc Holdings PLC owned 0.14% of Park Hotels & Resorts worth $3,609,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of PK. Cipher Capital LP bought a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at approximately $1,011,000. Ontario Teachers Pension Plan Board boosted its stake in Park Hotels & Resorts by 299.7% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 106,208 shares of the financial services provider’s stock worth $1,196,000 after purchasing an additional 79,634 shares during the period. Credit Suisse AG boosted its stake in Park Hotels & Resorts by 0.7% in the 3rd quarter. Credit Suisse AG now owns 307,230 shares of the financial services provider’s stock worth $3,459,000 after purchasing an additional 2,035 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Park Hotels & Resorts by 7.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 233,436 shares of the financial services provider’s stock worth $2,628,000 after acquiring an additional 15,794 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its holdings in shares of Park Hotels & Resorts by 146.5% during the 3rd quarter. ExodusPoint Capital Management LP now owns 322,144 shares of the financial services provider’s stock worth $3,627,000 after acquiring an additional 191,477 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.
Park Hotels & Resorts Stock Performance
Shares of Park Hotels & Resorts stock opened at $13.92 on Friday. The stock’s fifty day moving average is $13.08 and its two-hundred day moving average is $13.02. The company has a market capitalization of $3.13 billion, a PE ratio of 19.33 and a beta of 1.96. The company has a quick ratio of 3.24, a current ratio of 3.25 and a debt-to-equity ratio of 1.08. Park Hotels & Resorts Inc. has a 52 week low of $10.92 and a 52 week high of $20.58.
Park Hotels & Resorts Increases Dividend
Insider Transactions at Park Hotels & Resorts
In other news, Director Geoffrey Garrett sold 3,000 shares of the stock in a transaction on Friday, December 16th. The stock was sold at an average price of $11.86, for a total transaction of $35,580.00. Following the transaction, the director now owns 33,604 shares of the company’s stock, valued at approximately $398,543.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.09% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on PK shares. Compass Point decreased their price objective on Park Hotels & Resorts to $25.00 in a report on Tuesday, November 15th. Barclays decreased their price objective on Park Hotels & Resorts from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 10th. Morgan Stanley upped their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 7th. Truist Financial decreased their price target on Park Hotels & Resorts to $20.00 in a report on Wednesday, November 16th. Finally, Wells Fargo & Company increased their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $18.21.
About Park Hotels & Resorts
Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.
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