Vulcan Value Partners LLC Lowers Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Vulcan Value Partners LLC lowered its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,176,813 shares of the financial services provider's stock after selling 133,819 shares during the period. Vulcan Value Partners LLC owned about 0.57% of Park Hotels & Resorts worth $16,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in shares of 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 purchasing an additional 1,335 shares during the period. Jones Financial Companies Lllp raised its position in Park Hotels & Resorts by 42.2% during 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 last quarter. CIBC Private Wealth Group LLC acquired a new position in Park Hotels & Resorts during the 4th quarter worth about $112,000. KBC Group NV grew its position 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 buying an additional 2,663 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at about $141,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PK shares. Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a research note on Wednesday. Morgan Stanley reduced 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 note on Tuesday, April 22nd. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. Truist Financial decreased their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Two equities 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 MarketBeat, Park Hotels & Resorts currently has a consensus rating of "Hold" and a consensus target price of $14.60.

Park Hotels & Resorts Stock Up 1.4 %

PK stock traded up $0.14 during trading on Thursday, reaching $10.08. 1,528,886 shares of the stock were exchanged, compared to its average volume of 4,238,166. 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 Inc. has a twelve month low of $8.27 and a twelve month high of $16.58. The firm's 50 day moving average is $10.77 and its 200 day moving average is $13.04. The firm has a market cap of $2.03 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.93%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio is currently 99.01%.

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.