Guggenheim Capital LLC Sells 20,904 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Guggenheim Capital LLC lessened its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,432 shares of the financial services provider’s stock after selling 20,904 shares during the quarter. Guggenheim Capital LLC owned 0.06% of Park Hotels & Resorts worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its position in Park Hotels & Resorts by 1.5% during the first quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock valued at $937,000 after buying an additional 686 shares during the period. Federated Hermes Inc. grew its position in shares of Park Hotels & Resorts by 3.9% during the 1st quarter. Federated Hermes Inc. now owns 30,799 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 1,147 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Park Hotels & Resorts by 1.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 96,741 shares of the financial services provider’s stock worth $1,141,000 after purchasing an additional 1,230 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Park Hotels & Resorts by 5.5% in the 1st quarter. Van ECK Associates Corp now owns 24,520 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 1,270 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in Park Hotels & Resorts by 1.4% in the first quarter. Yousif Capital Management LLC now owns 104,616 shares of the financial services provider’s stock valued at $2,043,000 after purchasing an additional 1,463 shares during the last quarter. Institutional investors own 91.40% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $12.83 on Friday. Park Hotels & Resorts Inc. has a 12 month low of $10.70 and a 12 month high of $15.38. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.77 billion, a P/E ratio of -51.32, a P/E/G ratio of 0.84 and a beta of 1.92. The company has a 50 day moving average of $13.03 and a 200 day moving average of $12.92.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.70) earnings per share for the quarter, missing the consensus estimate of $0.58 by ($1.28). The firm had revenue of $714.00 million during the quarter, compared to the consensus estimate of $725.05 million. Park Hotels & Resorts had a negative return on equity of 1.14% and a negative net margin of 1.79%. As a group, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 1.88 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.68%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -240.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on PK. Morgan Stanley decreased their target price on Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Truist Financial lowered their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Barclays cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, July 27th. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $13.00 to $15.00 in a research report on Wednesday, July 12th. Finally, StockNews.com initiated coverage on shares of Park Hotels & Resorts in a report on Thursday, August 17th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.38.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 45 premium-branded hotels and resorts with over 29,000 rooms primarily located in prime city center and resort locations.