Dorsey Wright & Associates Sells 3,440 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Dorsey Wright & Associates cut its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 20.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,514 shares of the financial services provider’s stock after selling 3,440 shares during the quarter. Dorsey Wright & Associates’ holdings in Park Hotels & Resorts were worth $202,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in shares of Park Hotels & Resorts during the first quarter worth approximately $26,000. Raleigh Capital Management Inc. bought a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $35,000. YHB Investment Advisors Inc. bought a new position in Park Hotels & Resorts in the first quarter valued at approximately $40,000. FinTrust Capital Advisors LLC increased its stake in Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 3,668 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in Park Hotels & Resorts by 53.5% in the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,260 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Evercore ISI decreased their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.05.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.81 on Friday. The firm has a market cap of $3.12 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The firm’s fifty day moving average is $14.56 and its 200-day moving average is $15.51. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.75%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.27%.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.