Oak Thistle LLC Makes New Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Oak Thistle LLC acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,936 shares of the financial services provider's stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 22.5% during 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 raised its stake in Park Hotels & Resorts by 287.7% during 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 buying an additional 3,897,889 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock worth $49,182,000 after buying an additional 540,920 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 valued at $46,638,000 after buying an additional 115,391 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider's stock valued at $40,928,000 after acquiring an additional 66,093 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

Shares of PK stock traded up $0.03 during trading hours on Friday, hitting $13.63. 1,908,785 shares of the company were exchanged, compared to its average volume of 3,290,082. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 5.73 and a beta of 2.02. The firm has a fifty day simple moving average of $14.76 and a 200 day simple moving average of $14.56. Park Hotels & Resorts Inc. has a 52-week low of $13.22 and a 52-week high of $18.05.

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

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.65 per share. This is a boost from Park Hotels & Resorts's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 19.08%. Park Hotels & Resorts's dividend payout ratio is 63.69%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Compass Point dropped their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Wolfe Research lowered Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. UBS Group lifted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, November 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 on the stock in a research note on Thursday, January 2nd. Finally, Bank of America reduced 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.65.

Park Hotels & Resorts 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.