Los Angeles Capital Management LLC Acquires 279,228 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Los Angeles Capital Management LLC boosted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 1,275.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,118 shares of the financial services provider's stock after buying an additional 279,228 shares during the period. Los Angeles Capital Management LLC owned approximately 0.14% of Park Hotels & Resorts worth $4,607,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PK. FNY Investment Advisers LLC purchased a new stake in Park Hotels & Resorts in the fourth quarter worth $42,000. Spire Wealth Management grew its holdings in Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider's stock worth $63,000 after acquiring an additional 860 shares in the last quarter. Covestor Ltd increased its position in Park Hotels & Resorts by 31.5% during the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 1,340 shares during the period. Signaturefd LLC raised its holdings in shares of Park Hotels & Resorts by 12.7% in the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 727 shares in the last quarter. Finally, L2 Asset Management LLC purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth approximately $130,000. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

PK stock traded up $0.30 during midday trading on Monday, reaching $16.39. The stock had a trading volume of 3,209,778 shares, compared to its average volume of 2,823,188. Park Hotels & Resorts Inc. has a 52-week low of $11.05 and a 52-week high of $18.05. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 0.83 and a beta of 2.03. The company's fifty day simple moving average is $16.97 and its 200 day simple moving average is $15.60. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The business had revenue of $657.00 million for the quarter, compared to analysts' expectations of $665.16 million. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts's dividend payout ratio is presently 227.28%.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com raised shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating in a research report on Wednesday, May 1st. Truist Financial raised their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. Barclays upped their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. UBS Group raised their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, March 6th. Finally, Citigroup raised shares of Park Hotels & Resorts from a "neutral" rating to a "buy" rating and increased their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $17.27.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.