Los Angeles Capital Management LLC Has $8.07 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Los Angeles Capital Management LLC cut its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 72.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 573,544 shares of the financial services provider’s stock after selling 1,473,127 shares during the period. Los Angeles Capital Management LLC’s holdings in Park Hotels & Resorts were worth $8,070,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PK. Harbor Capital Advisors Inc. acquired a new stake in Park Hotels & Resorts in the third quarter valued at $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,841 shares during the period. Covestor Ltd grew its stake in Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after buying an additional 2,711 shares during the last quarter. KBC Group NV grew its stake in Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,882 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Park Hotels & Resorts in the 3rd quarter valued at about $116,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PK shares. Compass Point reduced 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. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. UBS Group dropped their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group decreased their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.15.

Park Hotels & Resorts Trading Down 0.2 %

Shares of Park Hotels & Resorts stock opened at $12.33 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 12-month low of $12.23 and a 12-month high of $18.05. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.51 and a beta of 2.00. The firm’s 50-day moving average price is $13.65 and its two-hundred day moving average price is $14.29.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.11%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

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.