Natixis Acquires 33,604 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Natixis increased its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 105,012.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,636 shares of the financial services provider's stock after buying an additional 33,604 shares during the period. Natixis' holdings in Park Hotels & Resorts were worth $473,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after acquiring an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after buying an additional 2,373 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Park Hotels & Resorts during the 4th quarter worth about $112,000. KBC Group NV lifted its stake in Park Hotels & Resorts by 36.2% during the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock worth $141,000 after purchasing an additional 2,663 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in Park Hotels & Resorts in the 4th quarter valued at $141,000. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Up 0.5 %

NYSE PK traded up $0.05 during trading hours on Wednesday, hitting $9.95. 5,856,468 shares of the company traded hands, compared to its average volume of 3,311,118. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.65. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The business's 50-day moving average is $10.77 and its 200-day moving average is $13.04. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 1.51 and a beta of 1.73.

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

Park Hotels & Resorts Cuts Dividend

The business 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 was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.05%. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 99.01%.

Wall Street Analysts Forecast Growth

PK has been the topic of several recent analyst reports. Evercore ISI reduced their target price on Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating on the stock in a report on Monday. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Morgan Stanley cut 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. Finally, Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Park Hotels & Resorts has a consensus rating of "Hold" and a consensus price target of $14.60.

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.