SG Americas Securities LLC Invests $3.10 Million in Park Hotels & Resorts Inc. (NYSE:PK)

SG Americas Securities LLC acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 290,484 shares of the financial services provider’s stock, valued at approximately $3,102,000.

Several other hedge funds have also recently made changes to their positions in the stock. Empowered Funds LLC purchased a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $286,000. Allspring Global Investments Holdings LLC boosted its position in shares of Park Hotels & Resorts by 264.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 304,584 shares of the financial services provider’s stock worth $4,197,000 after acquiring an additional 221,111 shares during the last quarter. Van ECK Associates Corp lifted its position in Park Hotels & Resorts by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 38,852 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 2,895 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Park Hotels & Resorts by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Park Hotels & Resorts by 1.1% during the fourth quarter. Rhumbline Advisers now owns 596,432 shares of the financial services provider’s stock valued at $8,392,000 after purchasing an additional 6,682 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $9.91 on Friday. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.51 and a beta of 1.74. The firm’s fifty day moving average is $10.15 and its two-hundred day moving average is $12.19.

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 for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 10.10%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 169.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 target price for the company. in a report on Friday, May 16th. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Citigroup reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, April 10th. Finally, Morgan Stanley lowered their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.75.

Park Hotels & Resorts 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.