International Assets Investment Management LLC grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 1,826.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,759 shares of the financial services provider’s stock after purchasing an additional 28,214 shares during the quarter. International Assets Investment Management LLC’s holdings in Park Hotels & Resorts were worth $455,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in Park Hotels & Resorts during the fourth quarter valued at $42,000. Spire Wealth Management boosted its stake in shares of Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares in the last quarter. Covestor Ltd grew its position in shares of Park Hotels & Resorts by 31.5% during the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,340 shares during the period. L2 Asset Management LLC purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at about $130,000. Finally, Pathstone Family Office LLC acquired a new position in Park Hotels & Resorts in the 3rd quarter worth about $173,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.
Park Hotels & Resorts Stock Down 0.5 %
Park Hotels & Resorts stock opened at $16.24 on Tuesday. The company has a market capitalization of $3.42 billion, a P/E ratio of 36.91, a PEG ratio of 0.80 and a beta of 2.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05. The stock has a 50-day simple moving average of $16.81 and a 200-day simple moving average of $15.92.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). The firm had revenue of $639.00 million during the quarter, compared to analysts’ expectations of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.08 earnings per share for the current year.
Park Hotels & Resorts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.16%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s payout ratio is currently 227.28%.
Analysts Set New Price Targets
Several analysts have commented on PK shares. Truist Financial raised their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and increased their price target for the company from $19.00 to $20.00 in a research note on Wednesday, May 15th. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Barclays upped their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $17.50.
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.
Recommended Stories
Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PK – Free Report).
Receive News & Ratings for Park Hotels & Resorts Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Park Hotels & Resorts and related companies with MarketBeat.com’s FREE daily email newsletter.
This post was originally published on 3rd party site mentioned in the title of this site
