Park Hotels & Resorts Inc. (NYSE:PK) Stock Position Increased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC boosted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 5.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 450,000 shares of the financial services provider’s stock after buying an additional 25,000 shares during the period. Lighthouse Investment Partners LLC’s holdings in Park Hotels & Resorts were worth $6,741,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after buying an additional 3,897,889 shares in the last quarter. AXA S.A. acquired a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at $1,979,000. Caxton Associates LP raised its holdings in Park Hotels & Resorts by 4.0% during the 2nd quarter. Caxton Associates LP now owns 133,801 shares of the financial services provider’s stock worth $2,004,000 after buying an additional 5,190 shares during the period. Aristeia Capital L.L.C. purchased a new stake in Park Hotels & Resorts during the second quarter valued at about $458,000. Finally, Magnetar Financial LLC purchased a new position in shares of Park Hotels & Resorts in the second quarter worth approximately $4,817,000. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of PK opened at $14.77 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $3.11 billion, a PE ratio of 33.57, a PEG ratio of 0.73 and a beta of 2.02. The firm’s 50 day moving average price is $14.56 and its 200 day moving average price is $15.51. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million during 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%. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is 227.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PK. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday. 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 report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Evercore ISI dropped their target price on 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.96.

Park Hotels & Resorts Company 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.