Wealth Enhancement Advisory Services LLC Sells 29,492 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Wealth Enhancement Advisory Services LLC decreased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,750 shares of the financial services provider's stock after selling 29,492 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Park Hotels & Resorts were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PK. Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after buying an additional 1,122,839 shares during the period. Arrowstreet Capital Limited Partnership grew its position 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 valued at $94,160,000 after purchasing an additional 1,056,188 shares during the last quarter. Allianz Asset Management GmbH increased 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 period. Norges Bank acquired a new position in shares of Park Hotels & Resorts during the 4th quarter worth about $41,087,000. Finally, Invesco Ltd. boosted its stake in Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock valued at $39,929,000 after purchasing an additional 1,295,548 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

NYSE PK traded down $0.07 during trading hours on Thursday, reaching $10.46. 622,056 shares of the company's stock were exchanged, compared to its average volume of 3,517,078. The firm has a fifty day moving average of $10.13 and a 200-day moving average of $12.23. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The stock has a market cap of $2.09 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.51 and a beta of 1.74. 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 issued its quarterly earnings data 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 8.16% and a return on equity of 5.63%. The firm had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company's revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company 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 $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.56%. Park Hotels & Resorts's payout ratio is 169.49%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PK. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price for the company. in a research note on Friday, May 16th. Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. 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 report on Wednesday, April 30th. Finally, Morgan Stanley cut their target price 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average 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.