Empowered Funds LLC Invests $286,000 in Park Hotels & Resorts Inc. (NYSE:PK)

Empowered Funds LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,322 shares of the financial services provider’s stock, valued at approximately $286,000.

Several other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in Park Hotels & Resorts during the third quarter worth approximately $33,000. Venturi Wealth Management LLC increased its stake in Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the last quarter. Covestor Ltd increased its stake in Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares during the last quarter. KBC Group NV increased its stake in Park Hotels & Resorts by 34.4% during the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,882 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Park Hotels & Resorts during the third quarter worth approximately $116,000. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Down 3.1 %

Shares of NYSE:PK opened at $12.63 on Friday. Park Hotels & Resorts Inc. has a 1 year low of $12.52 and a 1 year high of $18.05. The business has a 50 day simple moving average of $13.82 and a two-hundred day simple moving average of $14.31. The firm has a market capitalization of $2.61 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.52 and a beta of 2.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.58%. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.92%. Park Hotels & Resorts’s payout ratio is 99.01%.

Analysts Set New Price Targets

Several brokerages have weighed in on PK. Wells Fargo & Company reduced their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Financial Group reduced their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Compass Point dropped their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.15.

About Park Hotels & Resorts

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.