Arrowstreet Capital Limited Partnership Increases Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,692,233 shares of the financial services provider's stock after acquiring an additional 1,056,188 shares during the quarter. Arrowstreet Capital Limited Partnership owned 3.24% of Park Hotels & Resorts worth $94,160,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PK. Jones Financial Companies Lllp grew its holdings in shares of Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $116,000. KBC Group NV increased its position in Park Hotels & Resorts by 36.2% in the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after acquiring an additional 2,663 shares during the period. Plato Investment Management Ltd bought a new position in shares of Park Hotels & Resorts during the fourth quarter valued at $141,000. Finally, Merit Financial Group LLC acquired a new position in shares of Park Hotels & Resorts during the fourth quarter worth $146,000. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial lowered their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group cut their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Finally, UBS Group decreased their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $17.72.

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Park Hotels & Resorts Trading Down 4.0 %

Shares of NYSE:PK traded down $0.39 during mid-day trading on Friday, hitting $9.34. The company had a trading volume of 5,935,445 shares, compared to its average volume of 3,068,341. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a one year low of $8.74 and a one year high of $17.87. The firm has a fifty day moving average price of $12.23 and a 200 day moving average price of $13.74. The company has a market capitalization of $1.88 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.71%. Park Hotels & Resorts's payout ratio is 99.01%.

Park Hotels & Resorts Profile

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.