Voloridge Investment Management LLC Sells 881,812 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Voloridge Investment Management LLC decreased its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 75.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 294,233 shares of the financial services provider's stock after selling 881,812 shares during the period. Voloridge Investment Management LLC owned about 0.14% of Park Hotels & Resorts worth $4,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after acquiring an additional 1,122,839 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in 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 acquiring an additional 1,056,188 shares during the period. Allianz Asset Management GmbH lifted its stake in 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 acquiring an additional 125,730 shares during the period. Norges Bank purchased a new stake in Park Hotels & Resorts in the fourth quarter worth $41,087,000. Finally, Invesco Ltd. lifted its stake in 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 acquiring an additional 1,295,548 shares during the period. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Down 1.2%

Park Hotels & Resorts stock traded down $0.13 on Friday, hitting $10.36. 4,995,870 shares of the stock traded hands, compared to its average volume of 3,494,044. 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 firm has a market cap of $2.07 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The business's fifty day simple moving average is $10.18 and its 200 day simple moving average is $12.45. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm 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 company earned $0.52 earnings per share. The company's revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current 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 issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.65%. Park Hotels & Resorts's payout ratio is presently 169.49%.

Analyst Upgrades and Downgrades

PK has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on 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. Evercore ISI lowered 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. UBS Group lowered their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.