First Trust Advisors LP Acquires 149,542 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

First Trust Advisors LP boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 76.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 346,332 shares of the financial services provider's stock after buying an additional 149,542 shares during the quarter. First Trust Advisors LP owned 0.17% of Park Hotels & Resorts worth $4,873,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its stake in Park Hotels & Resorts by 22.4% in the 3rd quarter. Barclays PLC now owns 319,593 shares of the financial services provider's stock worth $4,507,000 after acquiring an additional 58,432 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Park Hotels & Resorts in the third quarter worth approximately $477,000. Tidal Investments LLC boosted its holdings in shares of Park Hotels & Resorts by 5.5% during the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider's stock worth $275,000 after purchasing an additional 1,020 shares during the period. Franklin Resources Inc. grew its position in Park Hotels & Resorts by 43.6% during the third quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider's stock valued at $9,936,000 after purchasing an additional 208,877 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Down 1.1 %

Shares of PK traded down $0.11 on Monday, reaching $10.15. 5,781,061 shares of the company's stock were exchanged, compared to its average volume of 3,336,023. The business has a 50 day moving average price of $10.68 and a two-hundred day moving average price of $12.96. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.58. The stock has a market capitalization of $2.05 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. 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 quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the prior year, the business posted $0.52 EPS. The firm's quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.85%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio is currently 99.01%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PK shares. Jefferies Financial Group lowered 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. UBS Group cut their price objective on shares of 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. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Bank of America downgraded shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target on the stock. in a report on Wednesday, April 30th. Finally, Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and a consensus price target of $14.60.

Park Hotels & Resorts Company 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.