Quadrature Capital Ltd Has $554,000 Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Quadrature Capital Ltd raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 16.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 39,277 shares of the financial services provider’s stock after purchasing an additional 5,580 shares during the period. Quadrature Capital Ltd’s holdings in Park Hotels & Resorts were worth $554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Algert Global LLC lifted its position in shares of Park Hotels & Resorts by 48.6% during the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock valued at $11,269,000 after purchasing an additional 245,973 shares in the last quarter. Diversified Trust Co purchased a new stake in Park Hotels & Resorts in the 2nd quarter valued at about $599,000. Quantbot Technologies LP lifted its position in shares of Park Hotels & Resorts by 95.7% during the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock worth $5,511,000 after buying an additional 179,884 shares in the last quarter. CWM LLC boosted its stake in shares of Park Hotels & Resorts by 1,875.4% in the 2nd quarter. CWM LLC now owns 56,258 shares of the financial services provider’s stock worth $843,000 after buying an additional 53,410 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Park Hotels & Resorts by 70.9% in the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock valued at $3,298,000 after acquiring an additional 92,800 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PK. UBS Group lifted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Compass Point cut their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Evercore ISI dropped their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Truist Financial decreased their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and an average target price of $18.23.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $15.65 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. Park Hotels & Resorts Inc. has a fifty-two week low of $13.23 and a fifty-two week high of $18.05. The stock has a market cap of $3.23 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 7.11 and a beta of 2.03. The stock has a fifty day moving average of $14.56 and a 200-day moving average of $14.70.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.65 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 16.61%. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Park Hotels & Resorts Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.