Park Hotels & Resorts (NYSE:PK) Reaches New 52-Week Low – Should You Sell?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price hit a new 52-week low on Friday . The company traded as low as $12.52 and last traded at $12.58, with a volume of 2034661 shares traded. The stock had previously closed at $13.03.

Analyst Ratings Changes

PK has been the subject of a number of recent research reports. Compass Point decreased their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company reduced their target price 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. Jefferies Financial Group reduced their target price 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. Finally, UBS Group reduced their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average price target of $18.15.

Park Hotels & Resorts Price Performance

The stock’s fifty day moving average price is $13.77 and its 200-day moving average price is $14.31. 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 has a market cap of $2.61 billion, a PE ratio of 12.51, a P/E/G ratio of 1.51 and a beta of 2.00.

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

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 7.92%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently added to or reduced their stakes in PK. Norges Bank purchased a new position in Park Hotels & Resorts during the 4th quarter valued at about $41,087,000. Deutsche Bank AG increased its holdings in Park Hotels & Resorts by 809.3% during the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after acquiring an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. purchased a new stake in shares of Park Hotels & Resorts during the fourth quarter worth about $21,342,000. Donald Smith & CO. Inc. grew its holdings in shares of Park Hotels & Resorts by 22.5% during the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Park Hotels & Resorts by 84.0% during the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock worth $39,929,000 after buying an additional 1,295,548 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

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.