Hill Winds Capital LP bought a new position in Park Hotels & Resorts Inc (NYSE:PK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 210,000 shares of the financial services provider’s stock, valued at approximately $5,433,000. Park Hotels & Resorts makes up about 3.7% of Hill Winds Capital LP’s holdings, making the stock its 15th biggest position. Hill Winds Capital LP owned approximately 0.09% of Park Hotels & Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of PK. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $29,000. Parallel Advisors LLC grew its position in Park Hotels & Resorts by 237.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,238 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 871 shares during the last quarter. Huntington National Bank purchased a new position in Park Hotels & Resorts in the 4th quarter worth approximately $31,000. State of Tennessee Treasury Department purchased a new position in Park Hotels & Resorts in the 3rd quarter worth approximately $80,000. Finally, Advisory Services Network LLC increased its stake in Park Hotels & Resorts by 121.5% in the 4th quarter. Advisory Services Network LLC now owns 3,181 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 1,745 shares during the period.
NYSE:PK traded down $0.68 during mid-day trading on Thursday, reaching $18.91. 7,450,136 shares of the company’s stock traded hands, compared to its average volume of 2,303,942. The company has a 50 day moving average price of $23.44 and a 200-day moving average price of $24.02. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.31 and a beta of 1.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 1.32. Park Hotels & Resorts Inc has a 12-month low of $17.67 and a 12-month high of $33.02.
A number of analysts have recently weighed in on PK shares. Nomura reissued a “buy” rating on shares of Park Hotels & Resorts in a research note on Sunday, December 22nd. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Raymond James downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.73.
Park Hotels & Resorts Company 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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.
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