Nicola Wealth Management LTD. Has $417,000 Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Nicola Wealth Management LTD. cut its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 41.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,578 shares of the financial services provider’s stock after selling 21,100 shares during the period. Nicola Wealth Management LTD.’s holdings in Park Hotels & Resorts were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PK. Donald Smith & CO. Inc. raised its stake in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC grew its position in Park Hotels & Resorts by 287.7% in the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after acquiring an additional 3,897,889 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Park Hotels & Resorts by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in Park Hotels & Resorts by 11.2% in the 3rd 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 currently owned by institutional investors.

Park Hotels & Resorts Trading Up 0.7 %

Shares of NYSE PK traded up $0.11 during trading hours on Thursday, reaching $15.22. The stock had a trading volume of 508,078 shares, compared to its average volume of 2,766,531. The business’s fifty day moving average price is $14.34 and its two-hundred day moving average price is $14.82. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05. 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 (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. Analysts expect that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PK. Bank of America dropped their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Truist Financial lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Park Hotels & Resorts Profile

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.