Twinbeech Capital LP Raises Position in Park Hotels & Resorts Inc. (NYSE:PK)

Twinbeech Capital LP raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 396.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,333 shares of the financial services provider's stock after buying an additional 68,950 shares during the quarter. Twinbeech Capital LP's holdings in Park Hotels & Resorts were worth $1,215,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Donald Smith & CO. Inc. raised its stake in Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock valued at $129,446,000 after buying an additional 1,122,839 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Park Hotels & Resorts by 18.7% in the fourth 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 during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Park Hotels & Resorts by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock worth $50,426,000 after purchasing an additional 125,730 shares during the last quarter. Norges Bank purchased a new position in shares of Park Hotels & Resorts in the fourth quarter worth $41,087,000. Finally, Invesco Ltd. raised its stake in shares of Park Hotels & Resorts by 84.0% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded up $0.25 during mid-day trading on Tuesday, reaching $10.42. The stock had a trading volume of 1,563,164 shares, compared to its average volume of 4,270,849. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.08 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.28. The business's 50 day moving average price is $10.25 and its 200 day moving average price is $12.56.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its 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. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

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 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 yield of 9.60%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 169.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PK shares. Wall Street Zen cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. UBS Group decreased their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, Evercore ISI cut Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target for the company. in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus target price of $13.78.

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.