Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC boosted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 128.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,517 shares of the financial services provider's stock after purchasing an additional 68,290 shares during the period. Prevail Innovative Wealth Advisors LLC owned about 0.06% of Park Hotels & Resorts worth $1,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in Park Hotels & Resorts by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 752 shares during the last quarter. Assetmark Inc. lifted its position in Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider's stock valued at $329,000 after buying an additional 764 shares during the period. Xponance Inc. grew its stake in shares of Park Hotels & Resorts by 3.8% in the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after acquiring an additional 892 shares during the last quarter. Cascade Investment Advisors Inc. increased its stake in Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider's stock valued at $1,034,000 after purchasing an additional 915 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Park Hotels & Resorts by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider's stock worth $5,043,000 after buying an additional 1,011 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Down 10.8 %

PK stock traded down $1.17 during mid-day trading on Thursday, reaching $9.70. 4,266,745 shares of the stock traded hands, compared to its average volume of 3,037,982. The business has a 50-day moving average price of $12.31 and a two-hundred day moving average price of $13.77. The stock has a market capitalization of $1.96 billion, a PE ratio of 9.60, a PEG ratio of 1.51 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a one year low of $9.61 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 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $609.05 million. Equities research 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. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 10.31%. Park Hotels & Resorts's dividend payout ratio is currently 99.01%.

Analysts Set New Price Targets

PK has been the topic of a number of research analyst reports. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. Truist Financial cut their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group reduced their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group decreased their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.72.

About Park Hotels & Resorts

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.