Landmark Investment Partners L.P. Makes New Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Landmark Investment Partners L.P. bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,516,832 shares of the financial services provider's stock, valued at approximately $21,342,000. Park Hotels & Resorts comprises about 8.6% of Landmark Investment Partners L.P.'s holdings, making the stock its 5th largest position. Landmark Investment Partners L.P. owned 0.73% of Park Hotels & Resorts at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in Park Hotels & Resorts in the 4th quarter valued at about $35,000. Quadrant Capital Group LLC lifted its stake in Park Hotels & Resorts by 38.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $112,000. Finally, KBC Group NV raised its holdings in Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after acquiring an additional 2,663 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Wells Fargo & Company dropped 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 note on Tuesday, February 18th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price objective for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. UBS Group dropped their target price 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. Finally, Evercore ISI lowered their price objective on Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.60.

Park Hotels & Resorts Stock Up 1.0 %

PK stock traded up $0.10 during midday trading on Thursday, hitting $10.04. The stock had a trading volume of 4,917,538 shares, compared to its average volume of 3,309,253. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The business has a 50-day moving average of $10.77 and a two-hundred day moving average of $13.04. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.58. 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 (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share 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 analysts' expectations of $609.05 million. As a group, equities research 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 business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.97%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is 99.01%.

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.