XTX Topco Ltd Takes $257,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

XTX Topco Ltd purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,124 shares of the financial services provider’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in Park Hotels & Resorts in the 1st quarter worth $26,000. Raleigh Capital Management Inc. bought a new position in Park Hotels & Resorts in the 4th quarter worth $35,000. YHB Investment Advisors Inc. bought a new position in Park Hotels & Resorts in the 1st quarter worth $40,000. FinTrust Capital Advisors LLC raised its holdings in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 3,668 shares during the period. Finally, EntryPoint Capital LLC increased its stake in Park Hotels & Resorts by 53.5% in the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,260 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Up 0.3 %

Shares of NYSE:PK opened at $14.81 on Friday. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The business has a 50 day simple moving average of $14.56 and a two-hundred day simple moving average of $15.49. The firm has a market capitalization of $3.09 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.75%. Park Hotels & Resorts’s payout ratio is 227.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI cut their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Truist Financial cut their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, UBS Group cut their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.05.

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.