Merit Financial Group LLC Purchases New Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Merit Financial Group LLC acquired a new position in Park Hotels & Resorts Inc. (NYSE:PKFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,342 shares of the financial services provider’s stock, valued at approximately $146,000.

Other hedge funds have also added to or reduced their stakes in the company. Algert Global LLC increased its stake in shares of Park Hotels & Resorts by 48.6% during the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after purchasing an additional 245,973 shares during the last quarter. XTX Topco Ltd increased its position in Park Hotels & Resorts by 420.7% in the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after buying an additional 72,044 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Park Hotels & Resorts by 488.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 69,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after buying an additional 1,075,255 shares during the period. Finally, Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 2.5 %

Park Hotels & Resorts stock opened at $13.43 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. Park Hotels & Resorts Inc. has a fifty-two week low of $13.22 and a fifty-two week high of $18.05. The stock has a market cap of $2.77 billion, a P/E ratio of 8.56, a PEG ratio of 5.69 and a beta of 2.02. The firm’s fifty day moving average price is $14.64 and its 200-day moving average price is $14.53.

Park Hotels & Resorts (NYSE:PKGet Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). The business had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.65 dividend. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 19.36%. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Wall Street Analyst Weigh In

PK has been the subject of several recent research reports. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. UBS Group lifted their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Jefferies Financial Group reduced their price objective on shares of 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. Finally, Wells Fargo & Company increased their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus target price of $18.65.

Get Our Latest Stock Analysis on PK

About Park Hotels & Resorts

(Free Report)

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.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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