Arrowstreet Capital Limited Partnership Purchases 1,056,188 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Arrowstreet Capital Limited Partnership grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 18.7% during the 4th quarter, Holdings Channel reports. The firm owned 6,692,233 shares of the financial services provider’s stock after purchasing an additional 1,056,188 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Park Hotels & Resorts were worth $94,160,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Park Hotels & Resorts by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 752 shares during the last quarter. Assetmark Inc. boosted its position in shares of Park Hotels & Resorts by 3.4% in the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 764 shares during the last quarter. Xponance Inc. grew its stake in shares of Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 892 shares during the period. Cascade Investment Advisors Inc. increased its holdings in Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 915 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Park Hotels & Resorts by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after buying an additional 1,011 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PK shares. Truist Financial decreased their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 21st. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Wells Fargo & Company cut their target price on shares of 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 decreased their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their price objective on 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.72.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $10.70 on Tuesday. The company has a fifty day moving average price of $12.42 and a 200 day moving average price of $13.81. The firm has a market cap of $2.16 billion, a PE ratio of 10.59, a PEG ratio of 1.51 and a beta of 2.02. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 1-year low of $10.46 and a 1-year high of $17.87.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share 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. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.35%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 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.