Southeastern Asset Management Inc. TN Sells 69,921 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Southeastern Asset Management Inc. TN lessened its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,310,978 shares of the financial services provider's stock after selling 69,921 shares during the period. Park Hotels & Resorts comprises approximately 1.5% of Southeastern Asset Management Inc. TN's holdings, making the stock its 24th biggest position. Southeastern Asset Management Inc. TN owned approximately 1.12% of Park Hotels & Resorts worth $32,515,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $35,000. Quadrant Capital Group LLC lifted its stake in shares of Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,335 shares during the period. Jones Financial Companies Lllp lifted its stake 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 bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $112,000. Finally, Plato Investment Management Ltd bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $141,000. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Down 1.8%

Shares of PK opened at $10.83 on Friday. 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 $16.58. The company has a 50 day simple moving average of $10.40 and a two-hundred day simple moving average of $12.77. The firm has a market cap of $2.16 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same period last year, the firm posted $0.52 EPS. The company's revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. Truist Financial reduced 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 report on Friday, March 21st. 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 report on Wednesday, April 30th. Morgan Stanley reduced their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and an average target price of $14.60.

About Park Hotels & Resorts

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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