Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 174,231 shares of the financial services provider's stock after selling 71,241 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Park Hotels & Resorts worth $2,451,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PK. Quarry LP bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $35,000. Quadrant Capital Group LLC raised its holdings in Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 1,335 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 2,373 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Park Hotels & Resorts in the fourth quarter valued at about $112,000. Finally, KBC Group NV boosted its stake in shares of Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock worth $141,000 after acquiring an additional 2,663 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Bank of America downgraded shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target on the stock. in a report on Wednesday, April 30th. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Truist Financial decreased their price objective 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. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price objective 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of "Hold" and a consensus target price of $14.60.

Park Hotels & Resorts Stock Down 2.3%

Shares of PK stock traded down $0.25 during trading on Wednesday, reaching $10.35. The company's stock had a trading volume of 1,292,475 shares, compared to its average volume of 3,416,218. The stock's 50-day moving average price is $10.36 and its 200 day moving average price is $12.69. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 1.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.42.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 9.67%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is 169.49%.

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.