Hotchkis & Wiley Capital Management LLC Has $11.59 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 821,860 shares of the financial services provider's stock after purchasing an additional 44,420 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.40% of Park Hotels & Resorts worth $11,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Donald Smith & CO. Inc. grew its stake in shares of Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider's stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Park Hotels & Resorts by 287.7% in the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider's stock worth $77,217,000 after acquiring an additional 3,897,889 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider's stock worth $46,638,000 after acquiring an additional 115,391 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider's stock worth $40,928,000 after acquiring an additional 66,093 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in shares of Park Hotels & Resorts by 286.9% in the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider's stock worth $38,904,000 after acquiring an additional 1,925,850 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 0.1 %

PK traded up $0.01 during mid-day trading on Wednesday, reaching $15.82. The stock had a trading volume of 2,912,425 shares, compared to its average volume of 2,771,010. The stock has a market capitalization of $3.27 billion, a P/E ratio of 10.08, a P/E/G ratio of 6.91 and a beta of 2.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm's fifty day simple moving average is $14.53 and its two-hundred day simple moving average is $14.71. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 1.97 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.65 dividend. This is a boost from Park Hotels & Resorts's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.60 annualized dividend and a dividend yield of 16.43%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 63.69%.

Analyst Ratings Changes

Several research firms have recently weighed in on PK. Compass Point dropped their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Bank of America decreased their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a report on Monday, October 21st. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.23.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.