Park Hotels & Resorts Inc. (PK) Stake Boosted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,715 shares of the financial services provider’s stock after acquiring an additional 3,284 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Park Hotels & Resorts were worth $451,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Prudential Financial Inc. lifted its holdings in shares of Park Hotels & Resorts by 135.5% in the 2nd quarter. Prudential Financial Inc. now owns 3,296,991 shares of the financial services provider’s stock worth $88,886,000 after acquiring an additional 1,896,731 shares during the last quarter. Sentry Investments Corp. acquired a new position in shares of Park Hotels & Resorts in the 2nd quarter worth approximately $11,210,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Park Hotels & Resorts by 30.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 146,458 shares of the financial services provider’s stock worth $3,949,000 after acquiring an additional 34,503 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Park Hotels & Resorts by 15.8% in the 2nd quarter. First Trust Advisors LP now owns 207,379 shares of the financial services provider’s stock worth $5,591,000 after acquiring an additional 28,280 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Park Hotels & Resorts by 3,050.7% in the 2nd quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 4,637 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Park Hotels & Resorts Inc. (PK) Stake Boosted by Oppenheimer Asset Management Inc.” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/16/park-hotels-resorts-inc-pk-stake-boosted-by-oppenheimer-asset-management-inc.html.

Shares of Park Hotels & Resorts Inc. (PK) opened at 27.49 on Friday. The company’s 50-day moving average is $27.33 and its 200 day moving average is $26.89. The stock has a market capitalization of $5.91 billion and a P/E ratio of 2.36. Park Hotels & Resorts Inc. has a 52 week low of $25.40 and a 52 week high of $30.74.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $733.00 million for the quarter, compared to analyst estimates of $716.51 million. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Park Hotels & Resorts Inc. will post $12.02 EPS for the current fiscal year.

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

Several equities analysts have recently commented on PK shares. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, May 25th. Evercore ISI started coverage on shares of Park Hotels & Resorts in a report on Wednesday, May 31st. They issued an “outperform” rating and a $28.00 price objective on the stock. J P Morgan Chase & Co began coverage on shares of Park Hotels & Resorts in a report on Thursday, June 15th. They issued an “overweight” rating and a $30.00 price objective on the stock. Cowen and Company upped their target price on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC upped their target price on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, June 20th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Park Hotels & Resorts has an average rating of “Hold” and an average price target of $34.80.

In other Park Hotels & Resorts news, Director Stephen I. Sadove purchased 9,600 shares of Park Hotels & Resorts stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $25.97 per share, with a total value of $249,312.00. Following the completion of the transaction, the director now directly owns 20,151 shares in the company, valued at approximately $523,321.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

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.

Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PK).

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.

Latest News

Leave a Reply