Xponance Inc. Sells 3,249 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Xponance Inc. decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,771 shares of the financial services provider’s stock after selling 3,249 shares during the period. Xponance Inc.’s holdings in Park Hotels & Resorts were worth $356,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Retirement Systems of Alabama grew its position in Park Hotels & Resorts by 0.3% in the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock valued at $4,612,000 after purchasing an additional 693 shares in the last quarter. Blue Zone Wealth Advisors LLC grew its position in Park Hotels & Resorts by 0.4% in the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after purchasing an additional 883 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Park Hotels & Resorts by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock valued at $1,449,000 after purchasing an additional 920 shares in the last quarter. State of Michigan Retirement System grew its position in Park Hotels & Resorts by 2.2% in the first quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Park Hotels & Resorts by 10.8% in the first quarter. Wedmont Private Capital now owns 11,418 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,117 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $14.10 on Wednesday. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 0.73 and a beta of 2.02. The firm’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $15.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58.

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

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is 227.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PK. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Truist Financial cut their price target on shares of 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. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. UBS Group cut their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Evercore ISI cut their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.05.

About Park Hotels & Resorts

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.