LPL Financial LLC lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 898.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,605 shares of the financial services provider's stock after acquiring an additional 339,773 shares during the period. LPL Financial LLC owned 0.18% of Park Hotels & Resorts worth $5,313,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Walleye Capital LLC bought a new stake in Park Hotels & Resorts in the 3rd quarter valued at $151,000. Quantinno Capital Management LP grew its position in shares of Park Hotels & Resorts by 74.2% during the third quarter. Quantinno Capital Management LP now owns 48,392 shares of the financial services provider's stock valued at $682,000 after purchasing an additional 20,605 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Park Hotels & Resorts during the third quarter valued at about $224,000. XTX Topco Ltd increased its holdings in shares of Park Hotels & Resorts by 420.7% in the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider's stock worth $1,257,000 after purchasing an additional 72,044 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Park Hotels & Resorts by 55.1% in the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock worth $347,000 after buying an additional 8,749 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.
Park Hotels & Resorts Stock Up 0.9 %
Shares of PK stock traded up $0.09 during mid-day trading on Friday, hitting $9.52. The stock had a trading volume of 4,846,037 shares, compared to its average volume of 3,200,543. The firm has a market capitalization of $1.92 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. 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 12-month low of $8.27 and a 12-month high of $17.26. The firm's 50-day moving average is $11.58 and its two-hundred day moving average is $13.42.
Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 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 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%. On average, analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.
Park Hotels & Resorts Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.51%. Park Hotels & Resorts's payout ratio is 99.01%.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the company from $19.00 to $10.00 in a research note on Wednesday. UBS Group lowered their price objective 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. Finally, Truist Financial dropped their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of "Hold" and an average target price of $16.39.
View Our Latest Stock Analysis on PK
Park Hotels & Resorts Company Profile
(
Free Report)
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.
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