New Age Alpha Advisors LLC Makes New Investment in Park Hotels & Resorts Inc. (NYSE:PK)

New Age Alpha Advisors LLC purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 117,267 shares of the financial services provider's stock, valued at approximately $1,650,000. New Age Alpha Advisors LLC owned about 0.06% of Park Hotels & Resorts at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Park Hotels & Resorts during the 4th quarter valued at about $41,087,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider's stock valued at $19,875,000 after buying an additional 1,075,255 shares during the period. JPMorgan Chase & Co. boosted its stake in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after acquiring an additional 540,920 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Park Hotels & Resorts by 26.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider's stock worth $34,384,000 after acquiring an additional 518,727 shares during the period. Finally, LPL Financial LLC raised its position in shares of Park Hotels & Resorts by 898.1% during the 4th quarter. LPL Financial LLC now owns 377,605 shares of the financial services provider's stock valued at $5,313,000 after acquiring an additional 339,773 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PK. 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. UBS Group decreased their target price on 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. Truist Financial cut their price target on shares of 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. Jefferies Financial Group reduced their price objective on shares of 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. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.72.

Park Hotels & Resorts Stock Down 3.3 %

Shares of Park Hotels & Resorts stock traded down $0.32 on Friday, hitting $9.40. The company had a trading volume of 8,694,072 shares, compared to its average volume of 3,085,010. The stock has a 50-day moving average of $12.14 and a 200-day moving average of $13.71. 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 twelve month low of $8.74 and a twelve month high of $17.87. The firm has a market capitalization of $1.90 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share 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 company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.64%. The ex-dividend date of this dividend is Monday, March 31st. 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.