Quantbot Technologies LP Acquires 38,527 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Quantbot Technologies LP grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 120.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,599 shares of the financial services provider’s stock after purchasing an additional 38,527 shares during the period. Quantbot Technologies LP’s holdings in Park Hotels & Resorts were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after buying an additional 752 shares during the last quarter. Assetmark Inc. grew its holdings 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 valued at $329,000 after acquiring an additional 764 shares in the last quarter. Xponance Inc. increased its position in shares of Park Hotels & Resorts by 3.8% in the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 892 shares during the last quarter. Cascade Investment Advisors Inc. raised its holdings in Park Hotels & Resorts by 1.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after acquiring an additional 915 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Park Hotels & Resorts by 0.3% during 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 purchasing an additional 1,011 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $11.36 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The stock has a 50 day simple moving average of $12.64 and a 200 day simple moving average of $13.89. Park Hotels & Resorts Inc. has a 1-year low of $10.87 and a 1-year high of $17.87. The stock has a market cap of $2.29 billion, a P/E ratio of 11.25, a PEG ratio of 1.51 and a beta of 2.02.

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 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 business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 8.80%. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. UBS Group lowered their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Truist Financial dropped 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 report on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.