Prevail Innovative Wealth Advisors LLC Has $2.47 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Prevail Innovative Wealth Advisors LLC increased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 90.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,115 shares of the financial services provider's stock after acquiring an additional 109,598 shares during the period. Prevail Innovative Wealth Advisors LLC owned approximately 0.11% of Park Hotels & Resorts worth $2,468,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PK. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after purchasing an additional 1,122,839 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Park Hotels & Resorts by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock worth $94,160,000 after purchasing an additional 1,056,188 shares in the last quarter. Norges Bank purchased a new position in Park Hotels & Resorts in the 4th quarter worth about $41,087,000. Invesco Ltd. increased its stake in Park Hotels & Resorts by 84.0% in the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock worth $39,929,000 after purchasing an additional 1,295,548 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Park Hotels & Resorts by 38.9% in the 4th quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock worth $38,585,000 after purchasing an additional 767,818 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 1.1%

Shares of Park Hotels & Resorts stock traded down $0.12 during trading on Wednesday, hitting $10.84. 2,185,350 shares of the stock traded hands, compared to its average volume of 3,641,992. The stock has a market cap of $2.17 billion, a P/E ratio of 18.38, a PEG ratio of 1.45 and a beta of 1.72. 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 Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The company has a fifty day moving average price of $10.54 and a two-hundred day moving average price of $11.41.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly 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 return on equity of 2.65% and a net margin of 4.90%. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same period in the previous year, the company earned $0.52 EPS. The firm's revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.25 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.22%. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

Analysts Set New Price Targets

A number of brokerages have commented on PK. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $16.00 to $11.00 in a research report on Friday, May 30th. Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a research report on Monday, June 23rd. They set an "underweight" rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average 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.