Jefferies Financial Group Inc. Buys New Holdings 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. acquired a new position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,824 shares of the financial services provider's stock, valued at approximately $682,000.

Several other institutional investors have also added to or reduced their stakes in PK. UMB Bank n.a. grew its position in Park Hotels & Resorts by 140.9% during the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 2,539 shares during the last quarter. Quarry LP purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at about $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at about $53,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Park Hotels & Resorts by 401.2% during the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 4,229 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PK has been the topic of a number of recent analyst reports. Truist Financial downgraded shares of 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 report on Friday, May 30th. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Evercore ISI cut shares of 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 note on Friday, May 16th. Finally, Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $12.11.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock traded down $0.14 during midday trading on Friday, hitting $10.18. The company had a trading volume of 3,565,510 shares, compared to its average volume of 3,733,761. The company has a fifty day simple moving average of $10.59 and a 200 day simple moving average of $11.05. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 37.71 and a beta of 1.80. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. During the same quarter in the previous year, the firm earned $0.65 EPS. Park Hotels & Resorts's revenue was down 2.0% compared to the same quarter last year. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.8%. 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.