Lighthouse Investment Partners LLC Buys Shares of 66,777 Park Hotels & Resorts Inc. (NYSE:PK)

Lighthouse Investment Partners LLC purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 66,777 shares of the financial services provider’s stock, valued at approximately $940,000.

A number of other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Park Hotels & Resorts by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 752 shares during the period. Assetmark Inc. increased its holdings in shares of Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 764 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Park Hotels & Resorts by 7.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 813 shares during the period. Xponance Inc. increased its holdings in shares of Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 892 shares during the period. Finally, Cascade Investment Advisors Inc. increased its holdings in shares of Park Hotels & Resorts by 1.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 915 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 1.5%

NYSE:PK opened at $11.01 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.58. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The stock has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $12.79.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same quarter last year, the company posted $0.52 EPS. Park Hotels & Resorts’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share 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 $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.08%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 169.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group lowered 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. Morgan Stanley lowered their target price on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group lowered Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Truist Financial lowered their target price 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. Finally, StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price 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.