Park Hotels & Resorts Inc. (NYSE:PK) Sees Large Increase in Short Interest

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 26,020,000 shares, a growth of 25.5% from the March 31st total of 20,740,000 shares. Currently, 13.3% of the company's stock are sold short. Based on an average daily volume of 4,450,000 shares, the short-interest ratio is currently 5.8 days.

Park Hotels & Resorts Stock Up 2.3 %

Park Hotels & Resorts stock traded up $0.24 during mid-day trading on Friday, hitting $10.28. The company had a trading volume of 6,346,758 shares, compared to its average volume of 3,326,204. The company has a market capitalization of $2.07 billion, a PE ratio of 10.17, 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. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $16.58. The stock's 50 day moving average price is $10.68 and its two-hundred day moving average price is $12.98.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released 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 net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. As a group, sell-side analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.73%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently added to or reduced their stakes in PK. Victory Capital Management Inc. increased its stake in Park Hotels & Resorts by 168.4% in the first quarter. Victory Capital Management Inc. now owns 336,278 shares of the financial services provider's stock worth $3,591,000 after purchasing an additional 210,997 shares during the period. Prevail Innovative Wealth Advisors LLC boosted its stake in Park Hotels & Resorts by 90.2% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 231,115 shares of the financial services provider's stock valued at $2,468,000 after acquiring an additional 109,598 shares in the last quarter. CWM LLC grew its stake in Park Hotels & Resorts by 113.1% during the 1st quarter. CWM LLC now owns 126,299 shares of the financial services provider's stock worth $1,349,000 after buying an additional 67,041 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Park Hotels & Resorts by 15.0% during the first quarter. Cerity Partners LLC now owns 74,667 shares of the financial services provider's stock valued at $797,000 after acquiring an additional 9,732 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Park Hotels & Resorts by 28.5% in the first quarter. Nisa Investment Advisors LLC now owns 153,606 shares of the financial services provider's stock worth $1,682,000 after buying an additional 34,110 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PK has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Evercore ISI lowered their price objective on Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price for the company. in a research report on Wednesday. Finally, Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.60.

Park Hotels & Resorts Company 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.

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