Atria Wealth Solutions Inc. Reduces Position in Park Hotels & Resorts Inc. $PK

Atria Wealth Solutions Inc. lessened its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 37.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,000 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Park Hotels & Resorts were worth $182,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of Park Hotels & Resorts by 140.9% during the first quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,395 shares during the period. Quarry LP bought a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $35,000. Versant Capital Management Inc raised its holdings in shares of Park Hotels & Resorts by 11,039.1% during the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 2,539 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $53,000. Finally, GAMMA Investing LLC raised its holdings in shares of Park Hotels & Resorts by 401.2% during the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 4,229 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PK. Morgan Stanley restated an “outperform” rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Citigroup restated a “buy” rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Wells Fargo & Company upped their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a report on Monday, June 23rd. They set an “underweight” rating and a $10.00 target price for the company. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $12.11.

Park Hotels & Resorts Price Performance

PK opened at $10.91 on Monday. The stock has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $10.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 40.41 and a beta of 1.80. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.23.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%. The business had revenue of $672.00 million during the quarter, compared to the consensus estimate of $672.37 million. During the same quarter in the prior year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 370.37%.

Park Hotels & Resorts Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.