Jacobs Levy Equity Management Inc. Cuts Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,050,749 shares of the financial services provider's stock after selling 74,818 shares during the period. Jacobs Levy Equity Management Inc. owned 0.51% of Park Hotels & Resorts worth $14,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in Park Hotels & Resorts during the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its position in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 2,841 shares during the last quarter. Quarry LP raised its position in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 1,857 shares during the last quarter. Claro Advisors LLC bought a new position in shares of Park Hotels & Resorts in the 3rd quarter worth approximately $69,000. Finally, Covestor Ltd raised its position in shares of Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider's stock worth $97,000 after acquiring an additional 2,711 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PK shares. Wolfe Research lowered Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. Evercore ISI decreased their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, November 18th. Finally, Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.23.

Park Hotels & Resorts Stock Down 0.5 %

PK traded down $0.08 during trading on Thursday, hitting $15.74. 4,783,244 shares of the company's stock traded hands, compared to its average volume of 2,779,576. The company's 50 day simple moving average is $14.55 and its two-hundred day simple moving average is $14.72. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts Inc. has a 12-month low of $13.23 and a 12-month high of $18.05. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 7.10 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate 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 business had revenue of $649.00 million for the quarter, compared to analysts' expectations of $646.15 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. The business's revenue for the quarter was down 4.4% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 16.52%. This is an increase from Park Hotels & Resorts's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 63.69%.

Park Hotels & Resorts Company 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.