Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,873 shares of the financial services provider’s stock after selling 1,197 shares during the quarter. Xponance Inc.’s holdings in Park Hotels & Resorts were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. increased its stake in Park Hotels & Resorts by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 725 shares during the last quarter. Spire Wealth Management increased its stake in Park Hotels & Resorts by 20.1% during the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares during the last quarter. Covestor Ltd increased its stake in Park Hotels & Resorts by 31.5% during the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,340 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Park Hotels & Resorts by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 1,714 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Park Hotels & Resorts by 1.6% during the third quarter. Nisa Investment Advisors LLC now owns 133,328 shares of the financial services provider’s stock worth $1,643,000 after acquiring an additional 2,146 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 1.5 %

Shares of PK opened at $16.57 on Friday. The company has a market capitalization of $3.49 billion, a P/E ratio of 36.02, a P/E/G ratio of 0.85 and a beta of 2.03. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50-day moving average price of $16.91 and a 200 day moving average price of $15.43.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. The firm had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. Sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is currently 217.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Truist Financial upped their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Barclays increased their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company increased their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Company 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.