Sei Investments Co. Sells 501,734 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Sei Investments Co. cut its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 56.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,086 shares of the financial services provider's stock after selling 501,734 shares during the period. Sei Investments Co. owned 0.19% of Park Hotels & Resorts worth $5,432,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PK. American Century Companies Inc. lifted its holdings in shares of Park Hotels & Resorts by 12.3% during the fourth quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider's stock worth $233,000 after buying an additional 1,816 shares in the last quarter. Virtu Financial LLC acquired a new stake in Park Hotels & Resorts in the 4th quarter worth about $311,000. Quantbot Technologies LP boosted its holdings in Park Hotels & Resorts by 120.1% in the 4th quarter. Quantbot Technologies LP now owns 70,599 shares of the financial services provider's stock valued at $993,000 after purchasing an additional 38,527 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Park Hotels & Resorts by 35.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,807 shares of the financial services provider's stock valued at $1,573,000 after purchasing an additional 29,432 shares during the period. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Park Hotels & Resorts during the 4th quarter worth approximately $280,000. Institutional investors own 92.69% of the company's stock.

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Park Hotels & Resorts Price Performance

NYSE:PK traded down $0.32 on Friday, hitting $9.40. The company had a trading volume of 8,694,072 shares, compared to its average volume of 3,087,761. Park Hotels & Resorts Inc. has a 52 week low of $8.73 and a 52 week high of $17.87. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.51 and a beta of 1.73. The firm has a 50 day moving average of $12.14 and a two-hundred day moving average of $13.70.

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 analysts' consensus estimates 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, research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 10.64%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. Truist Financial dropped their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company reduced 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, UBS Group dropped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.