Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 81.6% in the third quarter, HoldingsChannel.com reports. The firm owned 42,051 shares of the financial services provider’s stock after acquiring an additional 18,892 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Park Hotels & Resorts were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PK. Algert Global LLC boosted its holdings in shares of Park Hotels & Resorts by 48.6% during the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock valued at $11,269,000 after acquiring an additional 245,973 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Park Hotels & Resorts by 95.7% during the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after acquiring an additional 179,884 shares during the period. National Bank of Canada FI boosted its holdings in shares of Park Hotels & Resorts by 70.9% during the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock valued at $3,298,000 after acquiring an additional 92,800 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after acquiring an additional 3,897,889 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 69,296 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

NYSE PK opened at $15.28 on Friday. The stock’s 50-day moving average price is $14.70 and its two-hundred day moving average price is $14.69. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.15 billion, a PE ratio of 9.73, a PEG ratio of 7.02 and a beta of 2.03. Park Hotels & Resorts Inc. has a 1 year low of $13.23 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same quarter in the previous year, the firm posted $0.51 EPS. Park Hotels & Resorts’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts predict that Park Hotels & Resorts Inc. will post 1.96 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 17.02%. The ex-dividend date is Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is 63.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PK shares. Bank of America cut their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Compass Point cut their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Truist Financial cut their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, UBS Group boosted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $18.55.

Park Hotels & Resorts Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.