Stevens Capital Management LP Buys New Shares in Park Hotels & Resorts Inc. (NYSE:PK)

Stevens Capital Management LP bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,039 shares of the financial services provider’s stock, valued at approximately $307,000.

A number of other institutional investors have also recently bought and sold shares of PK. AE Wealth Management LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter worth $154,000. Bfsg LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter worth $189,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Park Hotels & Resorts by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock worth $1,064,000 after purchasing an additional 1,714 shares in the last quarter. Inspire Advisors LLC bought a new stake in Park Hotels & Resorts during the third quarter valued at $153,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Park Hotels & Resorts by 5.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 85,069 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 4,720 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Shares of PK stock traded up $0.24 on Friday, hitting $16.57. 1,528,050 shares of the company’s stock were exchanged, compared to its average volume of 2,756,584. Park Hotels & Resorts Inc. has a 12 month low of $11.05 and a 12 month high of $18.05. The company has a 50 day moving average of $16.88 and a 200 day moving average of $15.38. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $3.49 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 0.86 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The company had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. On average, equities research analysts predict that Park Hotels & Resorts Inc. will post 2.06 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.04%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 217.39%.

Analyst Upgrades and Downgrades

PK has been the subject of several recent research reports. Truist Financial upped their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and upped their price target for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. UBS Group upped their price objective on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $20.00 in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.58.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.