Jefferies Financial Group Inc. Invests $682,000 in Park Hotels & Resorts Inc. (NYSE:PK)

Key Points

• Jefferies Financial Group Inc. recently made an investment of $682,000 in Park Hotels & Resorts, acquiring 63,824 shares of the company.
• Park Hotels & Resorts declared a quarterly dividend of $0.25 per share, yielding 9.6%, with an ex-dividend date of September 30th.
• Analysts have given mixed ratings for Park Hotels & Resorts, with an average target price of $12.11 and three analysts rating the stock as a buy.

Jefferies Financial Group Inc. bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 63,824 shares of the financial services provider's stock, valued at approximately $682,000.

Other institutional investors have also added to or reduced their stakes in the company. Private Management Group Inc. lifted its stake in Park Hotels & Resorts by 31.1% in the first quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider's stock worth $31,790,000 after acquiring an additional 706,732 shares during the period. Invesco Ltd. lifted its position in shares of Park Hotels & Resorts by 84.0% in the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock worth $39,929,000 after purchasing an additional 1,295,548 shares during the period. Northern Trust Corp boosted its stake in shares of Park Hotels & Resorts by 38.9% during the 4th quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock valued at $38,585,000 after purchasing an additional 767,818 shares in the last quarter. Deutsche Bank AG increased its position in shares of Park Hotels & Resorts by 809.3% during the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock valued at $33,988,000 after buying an additional 2,149,972 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in Park Hotels & Resorts by 59.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,818,769 shares of the financial services provider's stock worth $25,590,000 after buying an additional 678,102 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Evercore ISI cut Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective on the stock. in a research report on Friday, May 16th. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the company from $16.00 to $11.00 in a research report on Friday, May 30th. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Jefferies Financial Group cut shares of 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 report on Wednesday, April 9th. Finally, Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target for the company. in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.11.

Park Hotels & Resorts Stock Down 1.0%

NYSE:PK traded down $0.11 on Wednesday, reaching $10.35. 5,714,757 shares of the stock traded hands, compared to its average volume of 3,690,691. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 38.35 and a beta of 1.80. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23. The company's fifty day simple moving average is $10.60 and its 200 day simple moving average is $11.09.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $672.00 million during the quarter, compared to analyst estimates of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. Equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.7%. Park Hotels & Resorts's dividend payout ratio is currently 370.37%.

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.