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

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

A number of other hedge funds have also made changes to their positions in PK. Quarry LP acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $35,000. Quadrant Capital Group LLC lifted its position in Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after purchasing an additional 2,373 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in Park Hotels & Resorts in the 4th quarter valued at about $112,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $141,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PK shares. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price on the stock. in a report on Friday, May 16th. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price objective for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Bank of America cut shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a report on Wednesday, April 30th. Wells Fargo & Company lowered their target price 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, Morgan Stanley decreased their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts has an average rating of "Hold" and a consensus price target of $13.78.

Park Hotels & Resorts Stock Performance

NYSE PK traded down $0.07 during trading hours on Friday, reaching $10.19. The stock had a trading volume of 3,776,723 shares, compared to its average volume of 3,455,189. 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 stock has a fifty day moving average of $10.28 and a 200 day moving average of $12.59. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.28. The stock has a market cap of $2.04 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its 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 net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same quarter last year, the business earned $0.52 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.81%. The ex-dividend date 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.