New Age Alpha Advisors LLC Invests $1.65 Million in Park Hotels & Resorts Inc. (NYSE:PK)

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

Several other hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Park Hotels & Resorts during the 3rd quarter worth $116,000. KBC Group NV grew its stake in Park Hotels & Resorts by 36.2% in the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after buying an additional 2,663 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Park Hotels & Resorts during the fourth quarter valued at about $141,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $146,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock traded down $0.71 on Friday, reaching $9.01. 2,387,582 shares of the stock were exchanged, compared to its average volume of 3,823,031. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm has a market cap of $1.82 billion, a PE ratio of 8.92, a P/E/G ratio of 1.51 and a beta of 1.73. The firm's 50 day moving average is $12.23 and its 200-day moving average is $13.74. Park Hotels & Resorts Inc. has a one year low of $8.73 and a one year high of $17.86.

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Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted 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). 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 return on equity of 5.63% and a net margin of 8.16%. As a group, analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.09%. Park Hotels & Resorts's payout ratio is 99.01%.

Wall Street Analyst Weigh In

PK has been the topic of several analyst reports. Wells Fargo & Company cut 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. 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. UBS Group cut their price target 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. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. Finally, Truist Financial reduced their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus price target 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.