Man Group plc Acquires 391,979 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Man Group plc boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 374.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 496,647 shares of the financial services provider's stock after buying an additional 391,979 shares during the quarter. Man Group plc owned approximately 0.24% of Park Hotels & Resorts worth $6,988,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PK. Quarry LP bought a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $35,000. Quadrant Capital Group LLC grew its position in Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after buying an additional 1,335 shares during the period. Jones Financial Companies Lllp grew its position in Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after buying an additional 2,373 shares during the period. CIBC Private Wealth Group LLC purchased a new position in Park Hotels & Resorts during the fourth quarter valued at approximately $112,000. Finally, KBC Group NV lifted its holdings in Park Hotels & Resorts by 36.2% during the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after purchasing an additional 2,663 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PK shares. UBS Group lowered their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Morgan Stanley lowered 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 report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Finally, Evercore ISI downgraded shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target on the stock. in a report on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Price Performance

PK stock opened at $10.80 on Tuesday. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.42. The company's fifty day moving average price is $10.37 and its 200-day moving average price is $12.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The company has a market capitalization of $2.16 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. 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 previous year, the firm earned $0.52 earnings per share. The company's quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's payout ratio is 169.49%.

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.

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