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

BNP Paribas Financial Markets lowered its stake 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 filing with the Securities and Exchange Commission (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 about 0.08% of Park Hotels & Resorts worth $2,451,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on PK. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Truist Financial reduced their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Evercore ISI downgraded Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target for the company. in a report on Friday, May 16th. Finally, UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Stock Down 0.3%

PK stock traded down $0.03 during trading on Thursday, reaching $10.19. The stock had a trading volume of 202,949 shares, compared to its average volume of 3,422,208. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.42. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $2.04 billion, a P/E ratio of 10.08, a PEG ratio of 1.51 and a beta of 1.75. The firm has a fifty day moving average price of $10.34 and a 200 day moving average price of $12.68.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its 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 return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.81%. Park Hotels & Resorts's dividend payout ratio is presently 169.49%.

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.