Wealthfront Advisers LLC Makes New $541,000 Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Wealthfront Advisers LLC purchased a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,472 shares of the financial services provider's stock, valued at approximately $541,000.

A number of other large investors have also made changes to their positions in PK. KBC Group NV lifted its holdings in Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 1,882 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Park Hotels & Resorts in the third quarter valued at approximately $116,000. Plato Investment Management Ltd acquired a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $141,000. Finally, Merit Financial Group LLC acquired a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $146,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PK. Jefferies Financial Group decreased their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, February 21st. Finally, UBS Group decreased their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $18.15.

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Park Hotels & Resorts Stock Down 1.1 %

NYSE:PK traded down $0.13 during trading hours on Thursday, hitting $11.58. The company's stock had a trading volume of 3,533,721 shares, compared to its average volume of 2,838,784. The stock has a market capitalization of $2.34 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The stock has a fifty day moving average of $12.82 and a 200-day moving average of $13.98. 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 Inc. has a 52-week low of $10.87 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its 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 business had revenue of $625.00 million during the quarter, compared to analysts' expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, equities analysts forecast 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 announced 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. This represents a $1.00 annualized dividend and a yield of 8.64%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Park Hotels & Resorts Company 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.