Guggenheim Capital LLC Sells 513,554 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Guggenheim Capital LLC reduced its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 96.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,626 shares of the financial services provider's stock after selling 513,554 shares during the quarter. Guggenheim Capital LLC's holdings in Park Hotels & Resorts were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Donald Smith & CO. Inc. increased its position 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 valued at $129,446,000 after purchasing 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% during 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 in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Park Hotels & Resorts by 3.6% in the 4th 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 last quarter. JPMorgan Chase & Co. boosted its stake in shares of Park Hotels & Resorts by 18.4% in the 3rd 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. Finally, Norges Bank bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at $41,087,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PK shares. UBS Group lowered their price target on shares of 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. Morgan Stanley reduced their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America downgraded Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective for the company. in a research report on Wednesday. Truist Financial cut their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Trading Up 1.5 %

PK stock traded up $0.16 during trading on Friday, reaching $10.20. The company had a trading volume of 1,041,310 shares, compared to its average volume of 3,300,488. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.58. The business has a 50 day moving average of $10.72 and a 200 day moving average of $13.01. The company has a market cap of $2.06 billion, a P/E ratio of 10.09, a PEG ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. As a group, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.81%. Park Hotels & Resorts's payout ratio is 99.01%.

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.