Vanguard Personalized Indexing Management LLC Sells 3,161 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Vanguard Personalized Indexing Management LLC decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,360 shares of the financial services provider’s stock after selling 3,161 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Park Hotels & Resorts were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new stake in shares of Park Hotels & Resorts in the 1st quarter worth about $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at about $35,000. YHB Investment Advisors Inc. purchased a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at about $40,000. FinTrust Capital Advisors LLC raised its position in shares of Park Hotels & Resorts by 260.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares in the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Park Hotels & Resorts by 53.5% during the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,260 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $14.81 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $3.09 billion, a P/E ratio of 33.66, a P/E/G ratio of 0.73 and a beta of 2.02. The company’s 50-day simple moving average is $14.56 and its two-hundred day simple moving average is $15.49. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its 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 company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. As a group, equities analysts anticipate 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, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.75%. Park Hotels & Resorts’s dividend payout ratio is currently 227.28%.

Analyst Ratings Changes

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

About Park Hotels & Resorts

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.