Man Group plc Grows Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Man Group plc boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 374.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 496,647 shares of the financial services provider’s stock after acquiring an additional 391,979 shares during the period. Man Group plc’s holdings in Park Hotels & Resorts were worth $6,988,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. increased its position in Park Hotels & Resorts by 3.4% during the fourth 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 during the last quarter. Coldstream Capital Management Inc. increased its position in Park Hotels & Resorts by 7.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 813 shares during the last quarter. Xponance Inc. increased its position in Park Hotels & Resorts by 3.8% during 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. increased its position 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 valued at $1,034,000 after acquiring an additional 915 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased 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 acquiring an additional 1,011 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 0.7%

NYSE PK opened at $10.80 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.42. The company’s 50-day moving average price is $10.37 and its 200-day moving average price is $12.71. The stock has a market cap of $2.16 billion, a PE ratio of 10.69, a PEG ratio of 1.51 and a beta of 1.75.

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, topping the consensus estimate 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 company had revenue of $630.00 million for the quarter, compared to analysts’ expectations of $620.17 million. During the same period in the prior year, the business earned $0.52 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.26%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts’s payout ratio is 169.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial cut their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price objective on the stock. in a research report on Friday. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Bank of America cut shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 price target on the stock. in a report on Wednesday, April 30th. Finally, UBS Group cut their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.