Caxton Associates LP Reduces Position in Park Hotels & Resorts Inc. (NYSE:PK)

Caxton Associates LP cut its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 54.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,345 shares of the financial services provider's stock after selling 36,295 shares during the quarter. Caxton Associates LP's holdings in Park Hotels & Resorts were worth $427,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Northeast Financial Group Inc. raised its position in Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock valued at $1,754,000 after purchasing an additional 31,928 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Park Hotels & Resorts by 43.6% during the 3rd quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider's stock worth $9,936,000 after buying an additional 208,877 shares during the period. Sterling Capital Management LLC lifted its holdings in Park Hotels & Resorts by 15.8% during the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock worth $468,000 after buying an additional 4,533 shares during the period. Oak Thistle LLC acquired a new position in Park Hotels & Resorts in the fourth quarter valued at $280,000. Finally, American Century Companies Inc. lifted its holdings in Park Hotels & Resorts by 12.3% in the fourth quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider's stock valued at $233,000 after buying an additional 1,816 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Evercore ISI reduced their target price on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Morgan Stanley cut their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Park Hotels & Resorts currently has an average rating of "Hold" and a consensus price target of $14.60.

Park Hotels & Resorts Price Performance

Shares of PK traded up $0.08 during midday trading on Tuesday, reaching $11.25. The stock had a trading volume of 1,119,369 shares, compared to its average volume of 3,372,820. The company's 50-day moving average is $10.47 and its 200 day moving average is $12.81. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.58. 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 company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same quarter last year, the firm earned $0.52 EPS. The company's revenue was down 1.4% on a year-over-year basis. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.89%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio is currently 169.49%.

About Park Hotels & Resorts

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.