Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 8.3% during the second quarter, HoldingsChannel.com reports. The fund owned 131,569 shares of the financial services provider’s stock after selling 11,891 shares during the period. Amalgamated Bank’s holdings in Park Hotels & Resorts were worth $1,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Retirement Systems of Alabama grew its position in shares of Park Hotels & Resorts by 0.3% during the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after acquiring an additional 693 shares during the last quarter. Blue Zone Wealth Advisors LLC increased its stake in shares of Park Hotels & Resorts by 0.4% in the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after purchasing an additional 883 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Park Hotels & Resorts by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock valued at $1,449,000 after buying an additional 920 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Park Hotels & Resorts by 2.2% during the first quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock worth $901,000 after buying an additional 1,100 shares during the period. Finally, Wedmont Private Capital grew its holdings in Park Hotels & Resorts by 10.8% in the 1st quarter. Wedmont Private Capital now owns 11,418 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,117 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 3.7 %

PK stock opened at $14.61 on Thursday. The firm has a market cap of $3.05 billion, a PE ratio of 33.19, a P/E/G ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts Inc. has a 12 month low of $11.05 and a 12 month high of $18.05. 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 firm has a 50 day simple moving average of $14.56 and a 200 day simple moving average of $15.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.85%. Park Hotels & Resorts’s dividend payout ratio is currently 227.28%.

Analysts Set New Price Targets

Several brokerages have weighed in on PK. Wells Fargo & Company cut their target price on 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. Evercore ISI reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. UBS Group lowered 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 note on Friday, August 16th. Finally, Truist Financial reduced their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $16.96.

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.