Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 29,432 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,807 shares of the financial services provider's stock after purchasing an additional 29,432 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Park Hotels & Resorts worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in Park Hotels & Resorts by 21.5% in the third quarter. Victory Capital Management Inc. now owns 109,002 shares of the financial services provider's stock valued at $1,537,000 after purchasing an additional 19,273 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 buying an additional 66,093 shares during the period. Cerity Partners LLC increased its stake in shares of Park Hotels & Resorts by 47.1% in the third quarter. Cerity Partners LLC now owns 150,971 shares of the financial services provider's stock worth $2,129,000 after buying an additional 48,308 shares during the period. Daiwa Securities Group Inc. raised its holdings in Park Hotels & Resorts by 6.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 77,369 shares of the financial services provider's stock valued at $1,091,000 after buying an additional 4,936 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Park Hotels & Resorts by 92.4% during the 3rd quarter. Bank of Montreal Can now owns 125,337 shares of the financial services provider's stock valued at $1,856,000 after buying an additional 60,202 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Down 2.3 %

PK traded down $0.26 during trading on Friday, reaching $10.90. The stock had a trading volume of 4,124,276 shares, compared to its average volume of 3,026,245. 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 $2.20 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.51 and a beta of 2.02. The stock's 50 day moving average is $12.48 and its two-hundred day moving average is $13.83. Park Hotels & Resorts Inc. has a one year low of $10.84 and a one year high of $17.87.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. As a group, analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current 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 given a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. Park Hotels & Resorts's dividend payout ratio is currently 99.01%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial decreased their price objective 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. Wells Fargo & Company reduced their price target on 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. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. Jefferies Financial Group reduced their target price on 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, UBS Group dropped their price target on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.