Park Hotels & Resorts Inc. (NYSE:PK) Shares Bought by Bamco Inc. NY

Bamco Inc. NY lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 514,064 shares of the financial services provider’s stock after buying an additional 18,311 shares during the period. Bamco Inc. NY owned approximately 0.25% of Park Hotels & Resorts worth $7,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $35,000. Quadrant Capital Group LLC raised its holdings in 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 in the last quarter. Jones Financial Companies Lllp lifted its position in Park Hotels & Resorts by 42.2% in the fourth 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 Park Hotels & Resorts during the 4th quarter valued at $112,000. Finally, KBC Group NV increased its position in shares of Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 2,663 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $10.15 on Tuesday. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.58. 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 stock has a market cap of $2.05 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The business has a fifty day simple moving average of $10.63 and a 200-day simple moving average of $12.94.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.85%. Park Hotels & Resorts’s payout ratio is 99.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley cut their price objective on 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. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price target for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Truist Financial cut 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 research note on Friday, March 21st. Finally, Wells Fargo & Company decreased their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus price target of $14.60.

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.