Systematic Financial Management LP Invests $768,000 in Park Hotels & Resorts Inc. (NYSE:PK)

Systematic Financial Management LP purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 54,472 shares of the financial services provider's stock, valued at approximately $768,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC grew its position in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock worth $54,000 after buying an additional 2,841 shares in the last quarter. Quarry LP increased its stake in shares of Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider's stock worth $62,000 after buying an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new stake in Park Hotels & Resorts in the third quarter valued at $69,000. Finally, Covestor Ltd boosted its stake in Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider's stock valued at $97,000 after acquiring an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PK shares. Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating on the stock in a research note on Monday, October 21st. Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 26th. UBS Group boosted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, November 18th. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Finally, Truist Financial lowered their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of "Hold" and an average target price of $18.23.

Park Hotels & Resorts Stock Performance

NYSE PK traded down $0.09 on Friday, hitting $15.65. The stock had a trading volume of 2,412,123 shares, compared to its average volume of 2,680,561. The company's 50-day moving average is $14.56 and its two-hundred day moving average is $14.71. Park Hotels & Resorts Inc. has a one year low of $13.23 and a one year high of $18.05. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 7.11 and a beta of 2.03. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period last year, the company earned $0.51 earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts expect that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 16.61%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts's previous quarterly dividend of $0.25. Park Hotels & Resorts's dividend payout ratio is currently 63.69%.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.