Park Hotels & Resorts Inc. (NYSE:PK) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 14.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 125,281 shares of the financial services provider’s stock after purchasing an additional 16,279 shares during the period. Victory Capital Management Inc.’s holdings in Park Hotels & Resorts were worth $1,763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. XTX Topco Ltd lifted its stake in shares of Park Hotels & Resorts by 420.7% in the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after buying an additional 1,075,255 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after acquiring an additional 540,920 shares during the period. Northeast Financial Group Inc. boosted its stake in shares of Park Hotels & Resorts by 34.4% during the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock worth $1,754,000 after acquiring an additional 31,928 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth approximately $768,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 3.4 %

Shares of PK stock opened at $11.74 on Tuesday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.51 and a beta of 2.02. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $12.90 and a 200 day moving average price of $14.03. Park Hotels & Resorts Inc. has a twelve month low of $10.87 and a twelve month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.52%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PK shares. UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group dropped their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.15.

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.