Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 14.5% during the fourth quarter, HoldingsChannel reports. The firm owned 48,146 shares of the financial services provider’s stock after purchasing an additional 6,095 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Park Hotels & Resorts were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Park Hotels & Resorts in the third quarter worth $33,000. Venturi Wealth Management LLC increased its stake in shares of Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the period. Covestor Ltd increased its stake in shares of Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares during the period. KBC Group NV increased its stake in shares of Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,882 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Park Hotels & Resorts in the third quarter worth $116,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

PK opened at $12.26 on Friday. 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 company has a market cap of $2.48 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.51 and a beta of 2.00. Park Hotels & Resorts Inc. has a 52-week low of $12.23 and a 52-week high of $18.05. The firm’s fifty day simple moving average is $13.51 and its two-hundred day simple moving average is $14.25.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.16%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group cut their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company lowered 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 report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.15.

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.