Peregrine Capital Management LLC Has $4.28 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Peregrine Capital Management LLC boosted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,584 shares of the financial services provider's stock after buying an additional 24,356 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.20% of Park Hotels & Resorts worth $4,278,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management increased its stake in Park Hotels & Resorts by 47.1% in the 1st quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock valued at $81,000 after buying an additional 2,440 shares during the last quarter. Vanderbilt University acquired a new stake in shares of Park Hotels & Resorts in the first quarter valued at about $151,000. State of Alaska Department of Revenue increased its position in shares of Park Hotels & Resorts by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 123,171 shares of the financial services provider's stock valued at $1,314,000 after acquiring an additional 1,430 shares during the last quarter. Bfsg LLC raised its holdings in Park Hotels & Resorts by 44.2% during the first quarter. Bfsg LLC now owns 21,420 shares of the financial services provider's stock worth $229,000 after acquiring an additional 6,570 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Park Hotels & Resorts by 93.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 96,365 shares of the financial services provider's stock valued at $1,029,000 after purchasing an additional 46,615 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PK. JPMorgan Chase & Co. initiated coverage on Park Hotels & Resorts in a research note on Monday, June 23rd. They set an "underweight" rating and a $10.00 price objective on the stock. Wall Street Zen lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Morgan Stanley cut their price target on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Finally, Truist Financial cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the company from $16.00 to $11.00 in a report on Friday, May 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.11.

Park Hotels & Resorts Stock Performance

Shares of PK stock traded up $0.02 during midday trading on Thursday, hitting $10.82. 1,958,126 shares of the company were exchanged, compared to its average volume of 3,629,923. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The firm has a market capitalization of $2.16 billion, a P/E ratio of 18.33, a PEG ratio of 1.43 and a beta of 1.72. The firm's 50 day moving average price is $10.35 and its two-hundred day moving average price 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 announced its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. The company had revenue of $630.00 million during the quarter, compared to analysts' expectations of $620.17 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. Park Hotels & Resorts's quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.25%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 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.