Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Cwm LLC

CWM LLC lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 113.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 126,299 shares of the financial services provider's stock after acquiring an additional 67,041 shares during the period. CWM LLC owned approximately 0.06% of Park Hotels & Resorts worth $1,349,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PK. Cerity Partners LLC lifted its position in Park Hotels & Resorts by 15.0% during the first quarter. Cerity Partners LLC now owns 74,667 shares of the financial services provider's stock valued at $797,000 after purchasing an additional 9,732 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 28.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 153,606 shares of the financial services provider's stock worth $1,682,000 after buying an additional 34,110 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Park Hotels & Resorts by 54.8% in the 1st quarter. M&T Bank Corp now owns 75,070 shares of the financial services provider's stock worth $801,000 after acquiring an additional 26,586 shares during the last quarter. Penserra Capital Management LLC boosted its position in Park Hotels & Resorts by 16.7% in the 1st quarter. Penserra Capital Management LLC now owns 88,322 shares of the financial services provider's stock valued at $942,000 after buying an additional 12,623 shares during the period. Finally, IFM Investors Pty Ltd raised its holdings in shares of Park Hotels & Resorts by 2.2% in the 1st quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 1,043 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

NYSE PK traded down $0.15 during trading on Thursday, hitting $11.23. 1,078,764 shares of the stock traded hands, compared to its average volume of 4,196,269. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.24 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.49 and a beta of 1.72. The firm has a 50-day simple moving average of $10.55 and a 200-day simple moving average of $11.30.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued 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 2.65% and a net margin of 4.90%. The firm had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company's revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date of this dividend was Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PK shares. Morgan Stanley reissued an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Wells Fargo & Company raised their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Bank of America cut shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a report on Wednesday, April 30th. Finally, Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus target price of $12.11.

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.