Cambridge Investment Research Advisors Inc. Sells 52,123 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Cambridge Investment Research Advisors Inc. trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 70.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,373 shares of the financial services provider's stock after selling 52,123 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Park Hotels & Resorts were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its stake in shares of Park Hotels & Resorts by 7.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider's stock worth $168,000 after buying an additional 813 shares during the last quarter. Xponance Inc. grew its stake in shares of Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after buying an additional 892 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Park Hotels & Resorts by 3.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,929 shares of the financial services provider's stock worth $491,000 after buying an additional 1,139 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Park Hotels & Resorts by 6.3% during the fourth quarter. Tidal Investments LLC now owns 20,754 shares of the financial services provider's stock worth $292,000 after buying an additional 1,232 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after buying an additional 1,335 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Trading Down 0.6%

PK stock traded down $0.07 during midday trading on Thursday, hitting $10.79. The stock had a trading volume of 3,322,117 shares, compared to its average volume of 3,643,898. The firm has a market cap of $2.16 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.72. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.33. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The business has a fifty day moving average price of $10.54 and a two-hundred day moving average price of $11.41.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. Park Hotels & Resorts's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.27%. The ex-dividend date was Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

Wall Street Analysts Forecast Growth

PK has been the topic of a number of research reports. Citigroup reaffirmed a "buy" rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target on the stock. in a report on Wednesday, April 30th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday. Finally, Wall Street Zen lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $12.11.

Park Hotels & Resorts 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.