Russell Investments Group Ltd. Purchases 868,061 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Russell Investments Group Ltd. raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 303.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,154,251 shares of the financial services provider's stock after acquiring an additional 868,061 shares during the quarter. Russell Investments Group Ltd. owned 0.56% of Park Hotels & Resorts worth $16,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PK. Donald Smith & CO. Inc. grew its holdings in shares of Park Hotels & Resorts by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after acquiring an additional 1,122,839 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Park Hotels & Resorts by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock worth $94,160,000 after acquiring an additional 1,056,188 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Park Hotels & Resorts by 3.6% during the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock valued at $50,426,000 after acquiring an additional 125,730 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after acquiring an additional 540,920 shares in the last quarter. Finally, Norges Bank acquired a new position in Park Hotels & Resorts in the 4th quarter worth approximately $41,087,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 0.6 %

NYSE PK traded up $0.06 during trading on Tuesday, hitting $9.70. 1,415,862 shares of the company traded hands, compared to its average volume of 3,211,058. The company has a market capitalization of $1.96 billion, a P/E ratio of 9.60, a PEG ratio of 1.51 and a beta of 1.73. The business has a fifty day simple moving average of $11.51 and a 200 day simple moving average of $13.39. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $17.26. 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 announced 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). The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.31%. Park Hotels & Resorts's payout ratio is 99.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PK shares. Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their target price for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. UBS Group lowered their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus target price of $16.39.

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.