Algert Global LLC Sells 255,735 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Algert Global LLC trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637,032 shares of the financial services provider's stock after selling 255,735 shares during the period. Algert Global LLC owned about 0.31% of Park Hotels & Resorts worth $8,963,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PK. 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 valued at $129,446,000 after purchasing an additional 1,122,839 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Park Hotels & Resorts by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock valued at $94,160,000 after acquiring an additional 1,056,188 shares during the period. Allianz Asset Management GmbH raised its stake in Park Hotels & Resorts by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock worth $50,426,000 after acquiring an additional 125,730 shares during the period. JPMorgan Chase & Co. lifted its holdings in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Park Hotels & Resorts in the fourth quarter worth approximately $41,087,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Trading Down 0.4 %

Shares of PK traded down $0.04 during midday trading on Friday, hitting $10.37. The stock had a trading volume of 3,490,456 shares, compared to its average volume of 3,369,998. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year 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. The stock's 50 day moving average is $10.48 and its 200 day moving average is $12.84. The firm has a market cap of $2.09 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75.

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

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.64%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 169.49%.

Analysts Set New Price Targets

PK has been the subject of a number of analyst reports. Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target for the company. in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their target price on 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. UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Truist Financial cut their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley decreased their price target on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.