62,700 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 62,700 shares of the financial services provider's stock, valued at approximately $917,000.

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

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Park Hotels & Resorts Stock Down 3.6 %

Shares of Park Hotels & Resorts stock traded down $0.35 during trading on Friday, reaching $9.37. The stock had a trading volume of 4,963,264 shares, compared to its average volume of 3,064,518. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 52 week low of $8.74 and a 52 week high of $17.87. The stock has a fifty day moving average price of $12.23 and a two-hundred day moving average price of $13.74.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.67%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's payout ratio is 99.01%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group dropped 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 report on Thursday, January 2nd. Truist Financial reduced their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company decreased their price objective on 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, StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of "Hold" and a consensus target price of $17.72.

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.