Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 18.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 858,191 shares of the financial services provider's stock after selling 192,558 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.42% of Park Hotels & Resorts worth $12,075,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PK. Northeast Financial Group Inc. boosted its holdings in shares of Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock worth $1,754,000 after purchasing an additional 31,928 shares during the last quarter. 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 acquiring an additional 208,877 shares during the period. Sterling Capital Management LLC grew its position in Park Hotels & Resorts by 15.8% during the fourth quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock valued at $468,000 after acquiring an additional 4,533 shares during the period. Oak Thistle LLC purchased a new stake in Park Hotels & Resorts during the fourth quarter valued at about $280,000. Finally, American Century Companies Inc. grew its position in Park Hotels & Resorts by 12.3% during the fourth quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider's stock valued at $233,000 after acquiring an additional 1,816 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Up 0.4%

Shares of PK traded up $0.05 during midday trading on Friday, reaching $10.88. 3,553,985 shares of the company were exchanged, compared to its average volume of 3,425,622. The stock has a 50-day moving average price of $10.38 and a 200-day moving average price of $12.73. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 10.77, 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 $16.42. 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 released its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, topping 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 business had revenue of $630.00 million for the quarter, compared to analysts' expectations of $620.17 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company's revenue was down 1.4% compared to the same quarter last year. Research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.19%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is 169.49%.

Analyst Upgrades and Downgrades

PK has been the subject of a number of research reports. Evercore ISI downgraded 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 report on Friday. Wells Fargo & Company lowered their price target 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. Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Truist Financial lowered their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley lowered 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 report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and an average price target of $14.60.

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.