Canada Pension Plan Investment Board increased its stake in Park Hotels & Resorts Inc (NYSE:PK) by 101.2% in the 3rd quarter, Holdings Channel reports. The firm owned 250,700 shares of the financial services provider’s stock after acquiring an additional 126,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Park Hotels & Resorts were worth $8,228,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. First Hawaiian Bank bought a new stake in shares of Park Hotels & Resorts during the 3rd quarter valued at $250,000. Standard Life Aberdeen plc raised its position in shares of Park Hotels & Resorts by 163.4% during the 2nd quarter. Standard Life Aberdeen plc now owns 45,392 shares of the financial services provider’s stock valued at $1,391,000 after acquiring an additional 28,159 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Park Hotels & Resorts by 16.9% during the 2nd quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 3,847 shares during the last quarter. Abacus Planning Group Inc. bought a new stake in shares of Park Hotels & Resorts during the 3rd quarter valued at $208,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $330,000.

PK has been the subject of several recent research reports. Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. Zacks Investment Research cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Nomura boosted their price target on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Deutsche Bank set a $32.00 price target on shares of Park Hotels & Resorts and gave the company a “hold” rating in a report on Saturday, November 3rd. Finally, Wells Fargo & Co decreased their price target on shares of Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating for the company in a report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $31.72.

Shares of PK stock opened at $30.16 on Friday. Park Hotels & Resorts Inc has a 12-month low of $23.91 and a 12-month high of $34.27. The firm has a market capitalization of $6.10 billion, a PE ratio of 10.85, a PEG ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.55 and a quick ratio of 1.55.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.38). Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.27%. The firm had revenue of $652.00 million during the quarter, compared to analyst estimates of $656.61 million. During the same period last year, the firm earned $0.66 EPS. Park Hotels & Resorts’s quarterly revenue was down 5.2% on a year-over-year basis. Equities analysts expect that Park Hotels & Resorts Inc will post 2.84 EPS for the current fiscal year.

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Park Hotels & Resorts Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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

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