Park Hotels & Resorts (NYSE:PK) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $15.68 and traded as high as $15.92. Park Hotels & Resorts shares last traded at $15.7240, with a volume of 4,323,658 shares trading hands.

Analyst Upgrades and Downgrades

PK has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $18.00 price target on shares of Park Hotels & Resorts in a report on Friday, August 14th. Evercore set a $17.00 price target on shares of Park Hotels & Resorts in a research report on Monday, October 26th. UBS Group upgraded Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a report on Monday, September 28th. Raymond James Financial raised Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Monday, September 28th. Finally, BMO Capital Markets raised shares of Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and raised their price target for the company from $14.00 to $18.00 in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.64.

Park Hotels & Resorts Price Performance

The firm has a market cap of $3.17 billion, a P/E ratio of -18.50 and a beta of 1.41. The business has a fifty day moving average of $15.68 and a 200 day moving average of $13.36. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, November 4th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%. The firm had revenue of $602.00 million during the quarter, compared to the consensus estimate of $601.95 million. During the same quarter last year, the business posted $0.35 EPS. Park Hotels & Resorts’s revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.87 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Thursday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently -120.48%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Park Hotels & Resorts during the second quarter valued at approximately $444,311,000. Donald Smith & CO. Inc. bought a new stake in shares of Park Hotels & Resorts in the 2nd quarter valued at about $207,120,000. Bank of America Corp DE bought a new stake in Park Hotels & Resorts in the 2nd quarter worth approximately $136,488,000. Fisher Asset Management LLC boosted its holdings in shares of Park Hotels & Resorts by 153.0% in the 3rd quarter. Fisher Asset Management LLC now owns 3,749,646 shares of the financial services provider’s stock worth $57,820,000 after purchasing an additional 2,267,476 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Park Hotels & Resorts by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,834,320 shares of the financial services provider’s stock worth $29,847,000 after buying an additional 102,160 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.