GSA Capital Partners LLP Sells 9,425 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

GSA Capital Partners LLP cut its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 8.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 102,573 shares of the financial services provider’s stock after selling 9,425 shares during the period. GSA Capital Partners LLP’s holdings in Park Hotels & Resorts were worth $1,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC boosted its stake in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after acquiring an additional 3,897,889 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock worth $46,638,000 after purchasing an additional 115,391 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Park Hotels & Resorts by 286.9% during the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 11.2% during the third quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock valued at $31,376,000 after purchasing an additional 223,562 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 0.2 %

Shares of PK stock opened at $15.12 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts Inc. has a 12-month low of $13.23 and a 12-month high of $18.05. The stock has a market capitalization of $3.12 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.83 and a beta of 2.02. The firm’s 50 day moving average is $14.33 and its 200 day moving average is $14.82.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Research analysts expect that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Compass Point cut their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America cut their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Truist Financial cut their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Evercore ISI decreased their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.