SG Americas Securities LLC Takes $3.10 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

SG Americas Securities LLC acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 290,484 shares of the financial services provider's stock, valued at approximately $3,102,000. SG Americas Securities LLC owned about 0.14% of Park Hotels & Resorts as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PK. Sterling Capital Management LLC grew 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 buying an additional 4,533 shares during the last quarter. American Century Companies Inc. grew 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 buying an additional 1,816 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of 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 during the last quarter. Van ECK Associates Corp grew its holdings in shares of Park Hotels & Resorts by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 38,852 shares of the financial services provider's stock worth $547,000 after buying an additional 2,895 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

NYSE:PK traded down $0.15 during mid-day trading on Tuesday, reaching $10.19. The stock had a trading volume of 2,802,489 shares, compared to its average volume of 3,536,441. The business has a 50 day simple moving average of $10.20 and a 200 day simple moving average of $12.07. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.34 and a beta of 1.74.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly 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 the consensus estimate of $620.17 million. During the same period last year, the firm earned $0.52 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.81%. Park Hotels & Resorts's payout ratio is 169.49%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PK shares. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target on the stock. in a report on Friday, May 16th. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the stock from $16.00 to $11.00 in a report on Friday, May 30th. Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of "Hold" and an average target price of $12.75.

Park Hotels & Resorts 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.