Tidal Investments LLC Buys 1,020 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Tidal Investments LLC raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,522 shares of the financial services provider’s stock after purchasing an additional 1,020 shares during the period. Tidal Investments LLC’s holdings in Park Hotels & Resorts were worth $275,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Algert Global LLC grew its stake in shares of Park Hotels & Resorts by 48.6% during the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock valued at $11,269,000 after acquiring an additional 245,973 shares during the period. Quantbot Technologies LP lifted its holdings in Park Hotels & Resorts by 95.7% during the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after purchasing an additional 179,884 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Park Hotels & Resorts by 420.7% in the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 72,044 shares during the period. National Bank of Canada FI increased its stake in shares of Park Hotels & Resorts by 70.9% in the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock worth $3,298,000 after purchasing an additional 92,800 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after purchasing an additional 3,897,889 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK opened at $15.07 on Wednesday. The firm has a fifty day simple moving average of $14.77 and a two-hundred day simple moving average of $14.65. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.11 billion, a P/E ratio of 9.60, a PEG ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate 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 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 posted $0.51 EPS. The company’s revenue was down 4.4% on a year-over-year basis. On average, analysts expect that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 17.25%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PK. Truist Financial cut their price target on 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. UBS Group lifted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Compass Point dropped their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.55.

Park Hotels & Resorts Profile

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.