Caxton Associates LP Cuts Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Caxton Associates LP lowered its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 54.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,345 shares of the financial services provider’s stock after selling 36,295 shares during the quarter. Caxton Associates LP’s holdings in Park Hotels & Resorts were worth $427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP bought a new stake in shares of Park Hotels & Resorts in the 4th quarter worth $35,000. Quadrant Capital Group LLC grew its position in Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after buying an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Park Hotels & Resorts during the 4th quarter worth approximately $112,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $141,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America downgraded Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 price target for the company. in a research report on Wednesday, April 30th. Wells Fargo & Company lowered 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. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their price target for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, April 10th. 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 report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.60.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $10.00 on Thursday. The firm has a market cap of $2.02 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $10.54 and its 200-day moving average is $12.89. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.58.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $630.00 million for the quarter, compared to analysts’ expectations of $620.17 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 10.00%. Park Hotels & Resorts’s dividend payout ratio is currently 169.49%.

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.