Swiss National Bank lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,942 shares of the financial services provider’s stock after purchasing an additional 21,898 shares during the period. Swiss National Bank owned 0.12% of Park Hotels & Resorts worth $6,792,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Park Hotels & Resorts by 3,050.7% during the 2nd quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 4,637 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Park Hotels & Resorts by 53.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,080 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Park Hotels & Resorts by 148.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 5,360 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Park Hotels & Resorts by 7.1% during the 2nd quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 624 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in shares of Park Hotels & Resorts by 4,029.2% during the 2nd quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 9,509 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Several research analysts have recently weighed in on the company. J P Morgan Chase & Co assumed coverage on Park Hotels & Resorts in a report on Thursday, June 15th. They set an “overweight” rating and a $30.00 target price on the stock. Jefferies Group LLC boosted their target price on Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, June 20th. Cowen and Company boosted their target price on Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, June 20th. Zacks Investment Research cut Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Canaccord Genuity lowered their target price on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.80.

Park Hotels & Resorts Inc. (NYSE PK) opened at 27.49 on Friday. The company has a 50-day moving average price of $27.33 and a 200-day moving average price of $26.89. Park Hotels & Resorts Inc. has a 12-month low of $25.40 and a 12-month high of $30.74. The firm has a market capitalization of $5.91 billion and a PE ratio of 2.36.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. The business had revenue of $733.00 million for the quarter, compared to analysts’ expectations of $716.51 million. Park Hotels & Resorts’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Park Hotels & Resorts Inc. will post $12.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.72 dividend on an annualized basis and a yield of 6.26%.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/17/swiss-national-bank-buys-21898-shares-of-park-hotels-resorts-inc-pk.html.

In other news, Director Stephen I. Sadove bought 9,600 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the completion of the transaction, the director now owns 20,151 shares in the company, valued at $523,321.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

Receive News & Ratings for Park Hotels & Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.