Wealth Enhancement Advisory Services LLC Has $1.03 Million Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

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

A number of other institutional investors and hedge funds have also bought and sold shares of PK. Sterling Capital Management LLC boosted its stake in Park Hotels & Resorts by 15.8% during the fourth quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock worth $468,000 after buying an additional 4,533 shares in the last quarter. American Century Companies Inc. boosted its stake in Park Hotels & Resorts by 12.3% during the fourth quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider's stock worth $233,000 after buying an additional 1,816 shares in the last quarter. Federated Hermes Inc. boosted its stake in Park Hotels & Resorts by 1,087.0% during the fourth quarter. Federated Hermes Inc. now owns 149,192 shares of the financial services provider's stock worth $2,099,000 after buying an additional 136,623 shares in the last quarter. Amalgamated Bank boosted its stake in Park Hotels & Resorts by 1.1% during the fourth 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Park Hotels & Resorts by 303.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,154,251 shares of the financial services provider's stock worth $16,242,000 after buying an additional 868,061 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 0.1%

Shares of PK traded up $0.02 on Friday, hitting $10.82. The company's stock had a trading volume of 1,958,126 shares, compared to its average volume of 3,631,861. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33. The firm's fifty day moving average price is $10.39 and its 200-day moving average price is $11.62. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.43 and a beta of 1.72.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly 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. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The firm had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the prior year, the firm posted $0.52 EPS. The business's revenue was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PK. Citigroup reiterated a "buy" rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Evercore ISI downgraded 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 note on Friday, May 16th. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their target price for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. Wells Fargo & Company boosted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Bank of America downgraded 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 research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.11.

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.