Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 93.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,365 shares of the financial services provider's stock after buying an additional 46,615 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Park Hotels & Resorts were worth $1,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in Park Hotels & Resorts by 15.8% in the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock worth $468,000 after purchasing an additional 4,533 shares during the period. American Century Companies Inc. increased 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 valued at $233,000 after buying an additional 1,816 shares in the last quarter. Federated Hermes Inc. increased 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 valued at $2,099,000 after buying an additional 136,623 shares in the last quarter. Amalgamated Bank raised its stake in shares of Park Hotels & Resorts by 1.1% during the 4th quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider's stock worth $1,382,000 after buying an additional 1,089 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Park Hotels & Resorts by 303.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,154,251 shares of the financial services provider's stock valued at $16,242,000 after buying an additional 868,061 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $16.00 to $11.00 in a report on Friday, May 30th. Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price on the stock. in a research report on Friday, May 16th. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday. JPMorgan Chase & Co. started coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price target on the stock. Finally, Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and a consensus target price of $12.11.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded up $0.11 during midday trading on Thursday, hitting $10.91. The company's stock had a trading volume of 738,157 shares, compared to its average volume of 3,614,623. The company has a market cap of $2.18 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 1.41 and a beta of 1.72. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.23. The business's 50 day simple moving average is $10.35 and its 200 day simple moving average is $11.69. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.07 and a current ratio of 1.07.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. The business's revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 9.17%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 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.