Prevail Innovative Wealth Advisors LLC Increases Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Prevail Innovative Wealth Advisors LLC lifted its stake in 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 SEC. The fund owned 231,115 shares of the financial services provider's stock after acquiring an additional 109,598 shares during the quarter. Prevail Innovative Wealth Advisors LLC owned approximately 0.11% of Park Hotels & Resorts worth $2,468,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management boosted its holdings in shares of Park Hotels & Resorts by 47.1% during the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock worth $81,000 after acquiring an additional 2,440 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 4,533 shares during the period. American Century Companies Inc. boosted its holdings in shares of 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 acquiring an additional 1,816 shares during the period. Federated Hermes Inc. boosted its stake 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 during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Park Hotels & Resorts by 303.3% in the fourth 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 during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the company from $16.00 to $11.00 in a research note on Friday, May 30th. Bank of America downgraded shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective for the company. in a research report on Wednesday, April 30th. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $12.11.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock traded down $0.09 during mid-day trading on Friday, reaching $10.72. The company's stock had a trading volume of 1,045,817 shares, compared to its average volume of 3,633,977. The firm's fifty day moving average price is $10.54 and its two-hundred day moving average price is $11.41. The company has a market capitalization of $2.14 billion, a P/E ratio of 18.17, a PEG ratio of 1.44 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 12-month low of $8.27 and a 12-month high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. The firm's revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.33%. The ex-dividend date of this dividend was Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is 169.49%.

About Park Hotels & Resorts

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.