Fox Run Management L.L.C. Sells 25,336 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Fox Run Management L.L.C. trimmed its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 56.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,327 shares of the financial services provider's stock after selling 25,336 shares during the quarter. Fox Run Management L.L.C.'s holdings in Park Hotels & Resorts were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PK. Wealth Enhancement Advisory Services LLC lifted its position in shares of Park Hotels & Resorts by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider's stock valued at $1,128,000 after buying an additional 752 shares in the last quarter. Assetmark Inc. raised its stake in Park Hotels & Resorts by 3.4% during the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider's stock worth $329,000 after acquiring an additional 764 shares during the period. Xponance Inc. boosted its position in shares of Park Hotels & Resorts by 3.8% in the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after purchasing an additional 892 shares during the period. Cascade Investment Advisors Inc. increased its stake in shares of Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider's stock worth $1,034,000 after purchasing an additional 915 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Park Hotels & Resorts by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider's stock valued at $5,043,000 after purchasing an additional 1,011 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

Park Hotels & Resorts Trading Up 0.7 %

PK traded up $0.08 on Tuesday, hitting $10.76. The company had a trading volume of 2,639,290 shares, compared to its average volume of 3,025,010. Park Hotels & Resorts Inc. has a 12-month low of $10.46 and a 12-month high of $17.87. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The business's fifty day simple moving average is $12.36 and its 200 day simple moving average is $13.79. The company has a market cap of $2.17 billion, a PE ratio of 10.65, a PEG ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million for 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%. Equities research analysts expect 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.30%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio is currently 99.01%.

Park Hotels & Resorts Company 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.