Park Hotels & Resorts Inc. (NYSE:PK) enjoyed a 8.16% run-up in share price since hitting record low of $25.06. The stock managed -1.53% fall and now stands at $27.1 as of 6/26/2019. At a recent session, the prices were hovering between $27.49 and $28.125. This company shares are 21.11% off its target price of $32.82 and the current market capitalization stands at $5.49B. The recent change has given its price a -8.89% deficit over SMA 50 and -20.02% deficit over its 52-week high. The stock witnessed -6.23% declines, -13.36% declines and 7.02% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found PK’s volatility during a week at 2.36% and during a month it has been found around 2.05%.
What Does Park Hotels & Resorts Inc. (PK) Do?
The company describes itself in regulatory filings as, “Park Hotels & Resorts, Inc. operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio. The company was founded by Conrad Hilton in 1919 and is headquartered in Tysons, VA.” [Text can be found here: https://www.marketwatch.com/investing/stock/PK/profile under company description.]Park Hotels & Resorts Inc. (PK) Top Holders
Institutional investors currently hold around $5.81 billion or 0% in PK stock. Look at its top three institutional owners: Vanguard Group Inc owns $867.81 million in Park Hotels & Resorts Inc., which represents roughly 15.81% of the company’s market cap and approximately 14.95% of the institutional ownership. Similar statistics are true for the second largest owner, Cohen & Steers Inc, which owns 23,108,984 shares of the stock are valued at $635.96 million. The third largest holder is Blackrock Inc., which currently holds $591.39 million worth of this stock and that ownership represents nearly 10.77% of its market capitalization.Park Hotels & Resorts Inc. 13F Filings
At the end of March reporting period, 147 institutional holders increased their position in Park Hotels & Resorts Inc. (NYSE:PK) by some 17,680,167 shares, 157 decreased positions by 16,214,075 and 35 held positions by 177,078,108. That puts total institutional holdings at 210,972,350 shares, according to SEC filings. The stock grabbed 38 new institutional investments totaling 1,440,102 shares while 42 institutional investors sold out their entire positions totaling 2,955,688 shares.Park Hotels & Resorts Inc. (NYSE:PK) Insider Trades
Multiple company employees have indulged in significant insider trading. Park Hotels & Resorts Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that EVP and CIO Sparks Matthew Abram has sold 12,877 shares of Park Hotels & Resorts Inc. (PK) in the trading session dated May. 07, 2018. These shares are worth $384,636 and were traded at $29.87 each. The SEC filing shows that HNA Tourism Group Co., Ltd. performed a sale of 53,651,453 shares. The 10% Owner disposed these shares by way of transaction on Mar. 09, 2018. The company’s shares were given away at $25.51 per share worth to an income of some $1,369,000,000 to the account of HNA Tourism Group Co., Ltd..
Director, SADOVE STEPHEN I, purchased 9,600 common shares of Park Hotels & Resorts Inc. (PK) in the open market. In a transaction dated Aug. 04, 2017, the shares were bought at an average price of $25.97, giving away a sum of $249,312. After this purchase, 20,151 common shares of PK are directly owned by the insider, with total stake valued at $546,092.
In the transaction dated Jun. 07, 2017, a great number of shares sold came courtesy the 10% Owner; Blackstone Real Estate Partner disposed a total of 15,000,000 shares at an average price of $26.05, amounting to approximately $390,750,000. The insider now directly owns 61,666 shares worth $1,671,149.