Park Hotels & Resorts Inc. (NYSE:PK) is Matthew 25 Management Corp’s 9th Largest Position

Matthew 25 Management Corp lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,100,000 shares of the financial services provider’s stock after purchasing an additional 100,000 shares during the period. Park Hotels & Resorts comprises 4.9% of Matthew 25 Management Corp’s investment portfolio, making the stock its 9th largest position. Matthew 25 Management Corp’s holdings in Park Hotels & Resorts were worth $15,477,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PK. Wealth Enhancement Advisory Services LLC lifted its holdings in Park Hotels & Resorts by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 752 shares during the period. Cascade Investment Advisors Inc. lifted its holdings in Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after buying an additional 915 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Park Hotels & Resorts by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock worth $5,043,000 after buying an additional 1,011 shares during the period. Tidal Investments LLC lifted its holdings in Park Hotels & Resorts by 5.5% in the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after buying an additional 1,020 shares during the period. Finally, KBC Group NV lifted its holdings in Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,882 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Shares of PK opened at $12.63 on Friday. The company has a market capitalization of $2.61 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average of $13.77 and a 200 day moving average of $14.31. Park Hotels & Resorts Inc. has a twelve month low of $12.52 and a twelve month high of $18.05.

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

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.92%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Analysts Set New Price Targets

Several analysts have commented on PK shares. UBS Group lowered their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Financial Group decreased their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Compass Point decreased their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.15.

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.