Nomura Holdings Inc. Acquires New Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Nomura Holdings Inc. acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 27,388 shares of the financial services provider’s stock, valued at approximately $385,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Northeast Financial Group Inc. raised its stake in Park Hotels & Resorts by 34.4% in the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after purchasing an additional 31,928 shares during the last quarter. Sterling Capital Management LLC raised its stake in Park Hotels & Resorts by 15.8% in the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 4,533 shares during the last quarter. American Century Companies Inc. raised its stake in Park Hotels & Resorts by 12.3% in the 4th quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 1,816 shares during the last quarter. Federated Hermes Inc. raised its stake in Park Hotels & Resorts by 1,087.0% in the 4th quarter. Federated Hermes Inc. now owns 149,192 shares of the financial services provider’s stock valued at $2,099,000 after purchasing an additional 136,623 shares during the last quarter. Finally, KBC Group NV raised its stake in 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 purchasing an additional 2,663 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 3.4%

Shares of NYSE:PK opened at $10.23 on Thursday. The business has a 50-day moving average price of $10.34 and a 200 day moving average price of $12.68. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.42.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 earnings per share (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 the consensus estimate of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.78%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts’s payout ratio is 169.49%.

Wall Street Analyst Weigh In

Several research firms recently commented on PK. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Truist Financial reduced their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. UBS Group reduced their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, Bank of America lowered Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 price target on the stock. in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $14.60.

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.