Two Sigma Investments LP Purchases 177,856 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Two Sigma Investments LP boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 262.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,593 shares of the financial services provider's stock after purchasing an additional 177,856 shares during the quarter. Two Sigma Investments LP owned about 0.12% of Park Hotels & Resorts worth $3,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PK. Northeast Financial Group Inc. lifted its stake in shares of Park Hotels & Resorts by 34.4% in the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock worth $1,754,000 after acquiring an additional 31,928 shares during the period. Sterling Capital Management LLC grew its stake in Park Hotels & Resorts by 15.8% in the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 4,533 shares during the period. American Century Companies Inc. grew its stake in Park Hotels & Resorts by 12.3% in the 4th quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 1,816 shares during the period. Federated Hermes Inc. grew its stake in shares of Park Hotels & Resorts by 1,087.0% during the 4th quarter. Federated Hermes Inc. now owns 149,192 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 136,623 shares during the period. Finally, KBC Group NV grew its stake in shares of Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock worth $141,000 after acquiring an additional 2,663 shares during the period. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 0.8%

NYSE:PK traded up $0.09 during trading hours on Tuesday, reaching $10.24. 3,749,185 shares of the company traded hands, compared to its average volume of 3,504,064. The business's 50-day moving average price is $10.13 and its two-hundred day moving average price is $12.39. The stock has a market capitalization of $2.05 billion, a P/E ratio of 10.13, a P/E/G 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 $16.23. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

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 business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.77%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's payout ratio is currently 169.49%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price target for the stock from $16.00 to $11.00 in a research report on Friday. UBS Group reduced their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Bank of America lowered 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. Finally, Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Two 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 stock. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of "Hold" and an average target price of $12.75.

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.