XTX Topco Ltd Grows Stake in Park Hotels & Resorts Inc. (NYSE:PK)

XTX Topco Ltd increased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 420.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,168 shares of the financial services provider's stock after purchasing an additional 72,044 shares during the period. XTX Topco Ltd's holdings in Park Hotels & Resorts were worth $1,257,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Park Hotels & Resorts by 2.1% in the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider's stock valued at $883,000 after buying an additional 1,232 shares during the last quarter. Bfsg LLC increased its holdings in Park Hotels & Resorts by 8.7% in the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider's stock valued at $218,000 after purchasing an additional 1,235 shares during the last quarter. Kendall Capital Management increased its holdings in Park Hotels & Resorts by 11.0% in the 2nd quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 1,500 shares during the last quarter. United Services Automobile Association lifted its stake in Park Hotels & Resorts by 10.5% during the second quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider's stock worth $237,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Park Hotels & Resorts by 82.1% during 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 period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

NYSE:PK traded down $0.20 during trading hours on Tuesday, hitting $15.61. The company's stock had a trading volume of 2,596,982 shares, compared to its average volume of 2,775,520. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The business's 50-day moving average is $14.63 and its two-hundred day moving average is $14.69. The company has a market capitalization of $3.22 billion, a PE ratio of 9.94, a PEG ratio of 7.03 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million during the quarter, compared to analysts' expectations of $646.15 million. During the same quarter in the prior year, the business earned $0.51 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Park Hotels & Resorts Inc. will post 1.97 EPS for the current fiscal 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 paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 16.66%. This is a positive change from Park Hotels & Resorts's previous quarterly dividend of $0.25. Park Hotels & Resorts's dividend payout ratio is presently 63.69%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday. Bank of America decreased their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a research report on Monday, October 21st. Evercore ISI cut their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 13th. Wolfe Research cut Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Finally, StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.32.

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.