Crestline Management LP Makes New $3.78 Million Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Crestline Management LP bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 268,459 shares of the financial services provider's stock, valued at approximately $3,777,000. Crestline Management LP owned about 0.13% of Park Hotels & Resorts at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter worth $35,000. Quadrant Capital Group LLC raised its position in Park Hotels & Resorts by 38.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp raised its position in Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Park Hotels & Resorts in the fourth quarter valued at about $112,000. Finally, KBC Group NV raised its position in Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after purchasing an additional 2,663 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Morgan Stanley decreased their target price on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Truist Financial dropped their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Evercore ISI lowered their price objective on Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Stock Up 8.1%

Shares of NYSE PK traded up $0.84 during trading on Monday, reaching $11.22. The company had a trading volume of 2,670,372 shares, compared to its average volume of 3,367,561. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.58. The stock has a market cap of $2.26 billion, a PE ratio of 11.13, a P/E/G ratio of 1.51 and a beta of 1.75. The business's 50-day moving average is $10.48 and its 200 day moving average is $12.83. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

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

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.92%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 169.49%.

Park Hotels & Resorts Company Profile

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.