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

Arrowstreet Capital Limited Partnership raised its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 18.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,692,233 shares of the financial services provider's stock after purchasing an additional 1,056,188 shares during the period. Arrowstreet Capital Limited Partnership owned 3.24% of Park Hotels & Resorts worth $94,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its position in shares of Park Hotels & Resorts by 4.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,878 shares of the financial services provider's stock valued at $941,000 after buying an additional 3,019 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Park Hotels & Resorts by 6.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 282,500 shares of the financial services provider's stock valued at $3,975,000 after purchasing an additional 18,200 shares during the period. New Age Alpha Advisors LLC acquired a new position in Park Hotels & Resorts during the fourth quarter worth $1,650,000. Norges Bank purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth $41,087,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at $261,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PK has been the subject of several research reports. Truist Financial dropped their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. UBS Group reduced their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group decreased their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.72.

Park Hotels & Resorts Stock Down 3.3 %

Shares of NYSE PK traded down $0.32 during midday trading on Friday, reaching $9.40. 8,694,072 shares of the company's stock were exchanged, compared to its average volume of 3,087,761. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a 52-week low of $8.73 and a 52-week high of $17.87. The business's fifty day moving average price is $12.14 and its two-hundred day moving average price is $13.70. The stock has a market capitalization of $1.90 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

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

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.64%. Park Hotels & Resorts's payout ratio is currently 99.01%.

About Park Hotels & Resorts

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.