Investors Research Corp Sells 1,121 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Investors Research Corp lessened its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,348 shares of the financial services provider’s stock after selling 1,121 shares during the quarter. Investors Research Corp’s holdings in Park Hotels & Resorts were worth $807,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. XTX Topco Ltd grew its stake in Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 72,044 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Park Hotels & Resorts by 321.6% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. grew its stake in Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after buying an additional 540,920 shares in the last quarter. Northeast Financial Group Inc. grew its stake in Park Hotels & Resorts by 34.4% in the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after buying an additional 31,928 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in Park Hotels & Resorts in the 3rd quarter valued at approximately $768,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 4.3 %

Shares of NYSE:PK opened at $12.39 on Monday. Park Hotels & Resorts Inc. has a 52-week low of $11.51 and a 52-week high of $18.05. The firm has a fifty day moving average of $13.21 and a 200 day moving average of $14.17. The firm has a market capitalization of $2.50 billion, a PE ratio of 12.26, 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.

Park Hotels & Resorts (NYSE:PK) last announced its 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 company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. As a group, research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced 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 yield of 8.07%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

Analyst Ratings Changes

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

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.