Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,807 shares of the financial services provider’s stock after acquiring an additional 29,432 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Park Hotels & Resorts worth $1,573,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. XTX Topco Ltd raised its position in shares of Park Hotels & Resorts by 420.7% during the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 72,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Park Hotels & Resorts by 321.6% during 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 worth $19,875,000 after buying an additional 1,075,255 shares during the last quarter. JPMorgan Chase & Co. increased its position in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares during the period. Northeast Financial Group Inc. lifted its stake in Park Hotels & Resorts by 34.4% in the fourth 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 during the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of Park Hotels & Resorts during the third quarter valued at $768,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PK shares. UBS Group cut 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 report on Monday, February 3rd. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Jefferies Financial Group decreased their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial reduced their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average price target of $17.72.

Park Hotels & Resorts Stock Down 1.3 %

Shares of PK stock opened at $11.36 on Wednesday. Park Hotels & Resorts Inc. has a 1 year low of $10.87 and a 1 year high of $17.87. 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 business’s fifty day moving average is $12.64 and its 200-day moving average is $13.89. The stock has a market cap of $2.29 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released 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 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. Equities analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Park Hotels & Resorts Company 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.