Donald Smith & CO. Inc. Buys 1,122,839 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,200,125 shares of the financial services provider's stock after purchasing an additional 1,122,839 shares during the period. Park Hotels & Resorts accounts for approximately 3.1% of Donald Smith & CO. Inc.'s holdings, making the stock its 11th largest holding. Donald Smith & CO. Inc. owned about 4.46% of Park Hotels & Resorts worth $129,446,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can raised its holdings in Park Hotels & Resorts by 92.4% in the third quarter. Bank of Montreal Can now owns 125,337 shares of the financial services provider's stock worth $1,856,000 after purchasing an additional 60,202 shares during the period. BNP Paribas Financial Markets raised its stake in Park Hotels & Resorts by 13.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 245,472 shares of the financial services provider's stock worth $3,461,000 after buying an additional 29,498 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Park Hotels & Resorts by 321.6% during 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 worth $19,875,000 after acquiring an additional 1,075,255 shares in the last quarter. Walleye Capital LLC acquired a new position in Park Hotels & Resorts in the third quarter valued at about $151,000. Finally, Verition Fund Management LLC increased its holdings in shares of Park Hotels & Resorts by 273.3% in the third quarter. Verition Fund Management LLC now owns 190,054 shares of the financial services provider's stock worth $2,680,000 after acquiring an additional 139,143 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on PK. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, February 21st. UBS Group reduced their target price on shares of 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. Truist Financial dropped their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group reduced their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $17.72.

Park Hotels & Resorts Stock Up 2.7 %

PK traded up $0.24 during trading on Tuesday, reaching $9.31. 2,872,209 shares of the stock were exchanged, compared to its average volume of 3,977,244. 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 stock's 50 day moving average price is $12.05 and its two-hundred day moving average price is $13.65. Park Hotels & Resorts Inc. has a twelve month low of $8.61 and a twelve month high of $17.78. The stock has a market cap of $1.88 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.74%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio is 99.01%.

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.