Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.7% in the 4th quarter, HoldingsChannel reports. The firm owned 207,185 shares of the financial services provider’s stock after selling 1,413 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Park Hotels & Resorts were worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its stake in shares of Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after buying an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Park Hotels & Resorts in the third quarter worth about $116,000. Plato Investment Management Ltd acquired a new stake in Park Hotels & Resorts during the fourth quarter worth about $141,000. KBC Group NV raised its position in Park Hotels & Resorts by 36.2% during the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 2,663 shares in the last quarter. 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 institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PK shares. Wells Fargo & Company dropped 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. Truist Financial dropped their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. UBS Group decreased their price objective 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. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.72.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $11.36 on Wednesday. The firm has a market cap of $2.29 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The stock has a 50 day moving average of $12.64 and a two-hundred day moving average of $13.89. Park Hotels & Resorts Inc. has a 12 month low of $10.87 and a 12 month 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.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly 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 firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. On average, analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 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.