Park Hotels & Resorts Inc. (NYSE:PK) Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 79.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,912 shares of the financial services provider's stock after selling 855,761 shares during the period. Renaissance Technologies LLC owned 0.11% of Park Hotels & Resorts worth $3,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after buying an additional 2,373 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Park Hotels & Resorts in the 4th quarter valued at about $112,000. Plato Investment Management Ltd purchased a new position in Park Hotels & Resorts during the 4th quarter valued at about $141,000. Finally, KBC Group NV raised its position 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 acquiring an additional 2,663 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock traded up $0.01 during midday trading on Friday, reaching $10.00. 3,478,970 shares of the stock traded hands, compared to its average volume of 3,302,274. The firm has a fifty day moving average price of $10.95 and a two-hundred day moving average price of $13.12. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.78. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.51 and a beta of 1.73. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. On average, equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.00%. Park Hotels & Resorts's dividend payout ratio (DPR) is 99.01%.

Wall Street Analyst Weigh In

PK has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced 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, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of "Hold" and an average target price of $15.75.

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.