A company insider recently bought 10,000 shares of Park Hotels & Resorts Inc. [PK]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Park Hotels & Resorts Inc. shares valued at $151,250 were purchased by ECKERT THOMAS D on Jun 14. At $15.12 per share, ECKERT THOMAS D acquired 10,000 shares. The insider’s holdings grew to 96,637 shares worth approximately $1.5 million following the completion of this transaction.


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Also, Garrett Geoffrey sold 5,000 shares, netting a total of over 76,702 in proceeds. Following the sale of shares at $15.34 each, the insider now holds 36,604 shares.

Before that, Garrett Geoffrey had sold 3,898 shares from its account. In a trade valued at $75,173, the Director traded Park Hotels & Resorts Inc. shares for $19.29 each. Upon closing the transaction, the insider’s holdings decreased to 3,898 shares, worth approximately $0.54 million.

As published in a research note from BMO Capital Markets on August 16, 2022, Park Hotels & Resorts Inc. [PK] has been rated down from an Outperform to a Market perform and the price target has been revised to $18 from $21. This represents a 13.83% premium over Wednesday’s closing price. Analysts at SMBC Nikko downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early August. Earlier on June 01, 2022, Truist upgraded its rating. Their new recommendation was “a Buy” for PK stock which previously was a “a Hold”.

Analyzing PK’s Price Performance

On Wednesday, Park Hotels & Resorts Inc. [NYSE: PK] plunged -2.82% to $15.51. The stock’s lowest price that day was $15.495, but it reached a high of $15.795 in the same session. During the last five days, there has been a drop of approximately 0.00%. Over the course of the year, Park Hotels & Resorts Inc. shares have dropped approximately -17.85%. Shares of the company reached a 52-week high of $20.58 on 04/21/22 and a 52-week low of $12.90 on 07/05/22. A 50-day SMA is recorded $14.95, while a 200-day SMA reached $17.76. Nevertheless, trading volume fell to 1.66 million shares from 2.56 million shares the previous day.

Support And Resistance Levels for Park Hotels & Resorts Inc. (PK)

According to the 24-hour chart, there is a support level at 15.40, which, if violated, would cause prices to drop to 15.30. In the upper region, resistance lies at 15.70. The next price resistance is at 15.90. RSI (Relative Strength Index) is 53.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.26, which suggests the price will decrease in the coming days. Percent R is at 46.35%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Park Hotels & Resorts Inc. subject to short interest?

Stocks of Park Hotels & Resorts Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.75 million shares to 13.67 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 14.42 million shares. A decline of -5.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.11 of the overall float, the days-to-cover ratio (short ratio) decline to 3.11.

Which companies own the most shares of Park Hotels & Resorts Inc. (PK)?

According to The Vanguard Group, Inc. filings, the company currently owns 31,870,550 shares, which is about 13.66% of the total PK shares outstanding. The investor’s shares have plunged by -1,301,546 from its previous 13-F filing of 33172096.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $324,868,052. PGGM Vermogensbeheer BV reduced a 0.00% interest valued at $214.81 million while SSgA Funds Management, Inc. purchased a 640,877 stake. A total of 69,485 shares of Park Hotels & Resorts Inc. were bought by Principal Global Investors LLC during the quarter, and -2,041,700 were sold by Brookfield Public Securities Grou. In its current portfolio, Vulcan Value Partners LLC holds 4,726,749 shares valued at $73.69 million.

In terms of Park Hotels & Resorts Inc. share price expectations, FactSet research, analysts set an average price target of $19.96 in the next 12 months, up nearly 22.18% from the previous closing price of $15.96. Analysts anticipate Park Hotels & Resorts Inc. stock to reach $28.00 by 2022, with the lowest price target being $14.00. In spite of this, 17 analysts ranked Park Hotels & Resorts Inc. stock as an Overweight at the end of 2022. On March 30, 2022, Jefferies assigned a price target of “a Hold” to the stock and downgraded coverage with a $19.

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