132,092 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Acquired by Axa S.A.

Axa S.A. acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 132,092 shares of the financial services provider’s stock, valued at approximately $1,979,000. Axa S.A. owned about 0.06% of Park Hotels & Resorts as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PK. Fidelis Capital Partners LLC purchased a new stake in Park Hotels & Resorts in the 1st quarter valued at about $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $35,000. YHB Investment Advisors Inc. bought a new position in Park Hotels & Resorts in the first quarter worth approximately $40,000. FinTrust Capital Advisors LLC increased its holdings in Park Hotels & Resorts by 260.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 3,668 shares during the period. Finally, EntryPoint Capital LLC raised its position in Park Hotels & Resorts by 53.5% during the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 2,260 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

PK has been the topic of a number of recent research reports. Evercore ISI dropped their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. Truist Financial dropped their price objective on shares of 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, UBS Group reduced 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. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.05.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $14.10 on Tuesday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 32.05, a PEG ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. 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 company has a 50 day moving average price of $14.56 and a 200 day moving average price of $15.47.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The company had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $694.94 million. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s payout ratio is 227.27%.

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.