Virtu Financial LLC Acquires Shares of 21,356 Park Hotels & Resorts Inc. (NYSE:PK)

Virtu Financial LLC acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,356 shares of the financial services provider’s stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pathstone Family Office LLC bought a new position in shares of Park Hotels & Resorts in the third quarter valued at about $173,000. UBS Group AG raised its holdings in shares of Park Hotels & Resorts by 548.2% in the third quarter. UBS Group AG now owns 552,839 shares of the financial services provider’s stock valued at $6,811,000 after buying an additional 467,554 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Park Hotels & Resorts by 22.8% in the third quarter. Citigroup Inc. now owns 157,883 shares of the financial services provider’s stock valued at $1,945,000 after buying an additional 29,301 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Park Hotels & Resorts by 8.4% in the third quarter. Deutsche Bank AG now owns 148,781 shares of the financial services provider’s stock valued at $1,833,000 after buying an additional 11,561 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Park Hotels & Resorts by 39.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 73,670 shares of the financial services provider’s stock valued at $920,000 after buying an additional 20,833 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $14.79 on Friday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 33.61, a PEG ratio of 0.73 and a beta of 2.01. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The business has a 50-day moving average of $15.88 and a 200-day moving average of $16.13. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.17). The company had revenue of $639.00 million for the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 6.76%. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $20.00 in a research report on Wednesday, May 15th. Citigroup upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Wedbush reiterated a “neutral” rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Finally, Truist Financial lowered their price objective on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus price target of $17.83.

Park Hotels & Resorts Company Profile

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.