Cwm LLC Has $1.57 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Cwm LLC lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 98.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,611 shares of the financial services provider’s stock after purchasing an additional 55,353 shares during the quarter. Cwm LLC owned 0.05% of Park Hotels & Resorts worth $1,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PK. Blue Zone Wealth Advisors LLC lifted its holdings in Park Hotels & Resorts by 2.3% during the third quarter. Blue Zone Wealth Advisors LLC now owns 258,600 shares of the financial services provider’s stock worth $3,646,000 after acquiring an additional 5,863 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth about $4,518,000. Cascade Investment Advisors Inc. lifted its holdings in shares of Park Hotels & Resorts by 4.8% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 72,572 shares of the financial services provider’s stock valued at $1,023,000 after purchasing an additional 3,350 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at approximately $204,000. Finally, Truist Financial Corp grew its position in shares of Park Hotels & Resorts by 129.1% in the 2nd quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 30,043 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 0.7 %

NYSE:PK opened at $14.35 on Wednesday. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 0.69 and a beta of 2.02. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $14.46 and its two-hundred day moving average price is $15.20.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm 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%. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date was Monday, September 30th. Park Hotels & Resorts’s payout ratio is currently 227.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PK shares. 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 research note on Tuesday, August 13th. Wells Fargo & Company dropped 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 report on Friday, September 13th. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Truist Financial dropped their price target on 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. Finally, StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.05.

Park Hotels & Resorts 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.