Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 11.4% in the fourth quarter, HoldingsChannel reports. The firm owned 23,960 shares of the financial services provider’s stock after buying an additional 2,446 shares during the quarter. Metis Global Partners LLC’s holdings in Park Hotels & Resorts were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PK. Harbor Capital Advisors Inc. acquired a new position in Park Hotels & Resorts during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC grew its holdings in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares in the last quarter. Covestor Ltd grew its holdings in Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares in the last quarter. KBC Group NV grew its holdings in Park Hotels & Resorts by 34.4% during the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,882 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Park Hotels & Resorts during the 3rd quarter worth approximately $116,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 1.4 %

PK stock opened at $11.91 on Thursday. The company has a fifty day moving average price of $13.32 and a 200 day moving average price of $14.21. Park Hotels & Resorts Inc. has a 12 month low of $11.51 and a 12 month high of $18.05. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. 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 (NYSE:PK) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm 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 $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.39%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Analyst Ratings Changes

PK has been the subject of several analyst reports. Wells Fargo & Company lowered their price target 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. Jefferies Financial Group lowered their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, UBS Group reduced 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 research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.15.

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.