Quantbot Technologies LP Has $993,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Quantbot Technologies LP grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 120.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,599 shares of the financial services provider’s stock after buying an additional 38,527 shares during the quarter. Quantbot Technologies LP’s holdings in Park Hotels & Resorts were worth $993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PK. Jones Financial Companies Lllp grew its holdings in Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Park Hotels & Resorts during the third quarter worth approximately $116,000. KBC Group NV grew its stake in shares of Park Hotels & Resorts by 36.2% during the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 2,663 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $141,000. Finally, Merit Financial Group LLC bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $146,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 1.3 %

PK opened at $11.36 on Wednesday. Park Hotels & Resorts Inc. has a twelve month low of $10.87 and a twelve month high of $17.87. The firm has a market cap of $2.29 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm’s fifty day moving average is $12.64 and its two-hundred day moving average is $13.89.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 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 business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.80%. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PK. UBS Group decreased their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Truist Financial reduced their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Jefferies Financial Group dropped their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $17.72.

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.