Raymond James Financial Inc. Takes $873,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Raymond James Financial Inc. acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 62,068 shares of the financial services provider's stock, valued at approximately $873,000.

A number of other large investors have also made changes to their positions in PK. Jones Financial Companies Lllp lifted its holdings in shares of Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after acquiring an additional 2,373 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Park Hotels & Resorts in the third quarter worth about $116,000. Plato Investment Management Ltd bought a new position in Park Hotels & Resorts during the fourth quarter worth about $141,000. KBC Group NV lifted its stake in Park Hotels & Resorts by 36.2% during the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock worth $141,000 after purchasing an additional 2,663 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $146,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PK. 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. 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 report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the stock from $19.00 to $10.00 in a report on Wednesday. UBS Group cut their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $16.39.

Park Hotels & Resorts Trading Up 13.9 %

NYSE:PK traded up $1.23 during trading hours on Wednesday, hitting $10.08. 10,663,543 shares of the stock were exchanged, compared to its average volume of 3,170,980. The company has a market capitalization of $2.03 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The company's 50 day moving average is $11.73 and its two-hundred day moving average is $13.51. Park Hotels & Resorts Inc. has a twelve month low of $8.30 and a twelve month high of $17.63.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted 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). The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.92%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is 99.01%.

Park Hotels & Resorts 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.