Bridgefront Capital LLC Makes New $141,000 Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Bridgefront Capital LLC acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 10,038 shares of the financial services provider’s stock, valued at approximately $141,000.

A number of other institutional investors have also made changes to their positions in the business. Balyasny Asset Management L.P. grew its position in Park Hotels & Resorts by 59.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,818,769 shares of the financial services provider’s stock valued at $25,590,000 after purchasing an additional 678,102 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Park Hotels & Resorts by 3.7% during the 4th quarter. Bamco Inc. NY now owns 514,064 shares of the financial services provider’s stock worth $7,233,000 after buying an additional 18,311 shares during the last quarter. AXA S.A. grew its holdings in shares of Park Hotels & Resorts by 0.6% in the 4th quarter. AXA S.A. now owns 252,931 shares of the financial services provider’s stock valued at $3,559,000 after acquiring an additional 1,402 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at about $267,000. Finally, Northern Trust Corp raised its holdings in Park Hotels & Resorts by 38.9% during the fourth quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider’s stock worth $38,585,000 after acquiring an additional 767,818 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America lowered Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 price target on the stock. in a research report on Wednesday, April 30th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Morgan Stanley decreased their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. 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 report on Friday, March 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $14.60.

Park Hotels & Resorts Trading Down 0.4 %

Shares of PK stock opened at $10.37 on Friday. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.58. The company has a market capitalization of $2.09 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The firm has a 50 day moving average price of $10.48 and a two-hundred day moving average price of $12.85. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

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

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 9.64%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 169.49%.

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.