66,777 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 66,777 shares of the financial services provider's stock, valued at approximately $940,000.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Park Hotels & Resorts in the 4th quarter valued at about $41,087,000. Deutsche Bank AG lifted its position in Park Hotels & Resorts by 809.3% during the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock worth $33,988,000 after acquiring an additional 2,149,972 shares during the last quarter. Landmark Investment Partners L.P. acquired a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $21,342,000. Invesco Ltd. lifted its position in Park Hotels & Resorts by 84.0% during the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock worth $39,929,000 after acquiring an additional 1,295,548 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after acquiring an additional 1,122,839 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 0.9%

NYSE PK traded down $0.10 during trading hours on Tuesday, hitting $10.70. The company's stock had a trading volume of 518,340 shares, compared to its average volume of 3,410,402. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.42. The company has a market capitalization of $2.14 billion, a PE ratio of 10.59, 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. The company's 50-day simple moving average is $10.37 and its two-hundred day simple moving average is $12.71.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. The firm had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.34%. Park Hotels & Resorts's payout ratio is currently 169.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PK. Morgan Stanley lowered their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a research report on Wednesday, April 30th. Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price on the stock. in a research report on Friday. Finally, Truist Financial reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Park Hotels & Resorts presently 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.