GAMMA Investing LLC Acquires 55,368 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

GAMMA Investing LLC boosted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 5,253.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,422 shares of the financial services provider's stock after purchasing an additional 55,368 shares during the period. GAMMA Investing LLC's holdings in Park Hotels & Resorts were worth $603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Park Hotels & Resorts by 11,039.1% during the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 2,539 shares during the last quarter. Quarry LP bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $35,000. GF Fund Management CO. LTD. bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $53,000. Quadrant Capital Group LLC lifted its position in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 1,335 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after acquiring an additional 2,373 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Up 0.1%

NYSE PK traded up $0.01 during trading hours on Thursday, hitting $10.20. The company's stock had a trading volume of 3,090,383 shares, compared to its average volume of 3,539,783. The stock has a fifty day moving average of $10.21 and a 200 day moving average of $12.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The firm has a market capitalization of $2.04 billion, a P/E ratio of 17.29, a PEG ratio of 1.32 and a beta of 1.74.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating 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 company 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 posted $0.52 EPS. The firm's quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.80%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's payout ratio is 169.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PK shares. Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a research report on Wednesday, April 30th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.75.

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.