Peregrine Capital Management LLC Purchases 24,356 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Peregrine Capital Management LLC raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,584 shares of the financial services provider's stock after buying an additional 24,356 shares during the period. Peregrine Capital Management LLC owned about 0.20% of Park Hotels & Resorts worth $4,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Spire Wealth Management boosted its holdings in 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 purchasing an additional 2,440 shares during the last quarter. Vanderbilt University purchased a new position in Park Hotels & Resorts during the first quarter worth about $151,000. State of Alaska Department of Revenue boosted its holdings in Park Hotels & Resorts by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 123,171 shares of the financial services provider's stock worth $1,314,000 after purchasing an additional 1,430 shares during the last quarter. Bfsg LLC boosted 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 purchasing an additional 6,570 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings 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 worth $1,029,000 after purchasing an additional 46,615 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PK has been the topic of several research reports. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a research report on Wednesday, April 30th. 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. Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective on the stock. in a research report on Friday, May 16th. Morgan Stanley lowered their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group lowered shares of 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 research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $12.11.

Park Hotels & Resorts Price Performance

NYSE:PK traded up $0.02 during mid-day trading on Friday, hitting $10.82. 1,958,126 shares of the stock traded hands, compared to its average volume of 3,631,861. The business's 50-day moving average price is $10.39 and its 200 day moving average price is $11.62. The company has a market cap of $2.16 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.43 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 company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33.

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 EPS for the quarter, topping 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 business 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 company earned $0.52 EPS. The business's quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's payout ratio is presently 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.