Lighthouse Investment Partners LLC Acquires Shares of 66,777 Park Hotels & Resorts Inc. (NYSE:PK)

Lighthouse Investment Partners LLC acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 66,777 shares of the financial services provider’s stock, valued at approximately $940,000.

Several other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Park Hotels & Resorts by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 752 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Park Hotels & Resorts by 3.4% during the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock valued at $329,000 after buying an additional 764 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Park Hotels & Resorts by 7.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock valued at $168,000 after buying an additional 813 shares during the last quarter. Xponance Inc. boosted its stake in shares of Park Hotels & Resorts by 3.8% during the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after buying an additional 892 shares during the last quarter. Finally, Cascade Investment Advisors Inc. boosted its stake in shares of Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 915 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $11.01 on Thursday. The business’s fifty day moving average price is $10.42 and its 200 day moving average price is $12.79. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.58. The stock has a market capitalization of $2.20 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $630.00 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS 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. This represents a $1.00 dividend on an annualized basis and a yield of 9.08%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts’s payout ratio is 169.49%.

Wall Street Analyst Weigh In

PK has been the subject of several research analyst reports. Jefferies Financial Group cut Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their target price for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. UBS Group reduced their target price on 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. Morgan Stanley reduced their target price on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on 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. Finally, StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.60.

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.