Gotham Asset Management LLC Sells 24,180 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Gotham Asset Management LLC lowered its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 38.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,806 shares of the financial services provider's stock after selling 24,180 shares during the period. Gotham Asset Management LLC's holdings in Park Hotels & Resorts were worth $546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northeast Financial Group Inc. lifted its position in shares of Park Hotels & Resorts by 34.4% in the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock worth $1,754,000 after buying an additional 31,928 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Park Hotels & Resorts by 15.8% in the fourth 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 last quarter. American Century Companies Inc. lifted its position in shares of 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 worth $233,000 after buying an additional 1,816 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Park Hotels & Resorts by 1,087.0% in the fourth quarter. Federated Hermes Inc. now owns 149,192 shares of the financial services provider's stock worth $2,099,000 after buying an additional 136,623 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of 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 worth $141,000 after buying an additional 2,663 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

PK traded down $0.07 on Friday, hitting $10.19. 3,776,723 shares of the stock traded hands, compared to its average volume of 3,455,189. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.28. 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 firm has a market capitalization of $2.04 billion, a PE ratio of 10.09, a P/E/G ratio of 1.51 and a beta of 1.75. The business has a fifty day moving average price of $10.28 and a two-hundred day moving average price of $12.59.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly 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. 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 analyst estimates of $620.17 million. During the same period in the previous year, the company posted $0.52 earnings per share. The company's quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.81%. Park Hotels & Resorts's dividend payout ratio is 169.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PK. Truist Financial reduced their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Bank of America cut Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective for the company. in a research report on Wednesday, April 30th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Evercore ISI cut Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective for the company. in a research report on Friday, May 16th. Finally, Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.78.

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.