Quadrature Capital Ltd Takes $714,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Quadrature Capital Ltd purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 46,689 shares of the financial services provider’s stock, valued at approximately $714,000.

A number of other institutional investors have also recently made changes to their positions in PK. Vanguard Group Inc. boosted its holdings in Park Hotels & Resorts by 1.1% in the third quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock worth $407,911,000 after purchasing an additional 347,812 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Park Hotels & Resorts by 36.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after purchasing an additional 1,728,921 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Park Hotels & Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider’s stock worth $41,945,000 after purchasing an additional 13,473 shares during the last quarter. Norges Bank purchased a new stake in Park Hotels & Resorts in the fourth quarter worth approximately $31,745,000. Finally, Allianz Asset Management GmbH boosted its holdings in Park Hotels & Resorts by 10.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,794,528 shares of the financial services provider’s stock worth $27,456,000 after purchasing an additional 166,152 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI upgraded shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $19.00 to $20.00 in a research note on Wednesday, May 15th. Barclays lifted their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Finally, Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.83.

Park Hotels & Resorts Stock Up 0.3 %

Shares of PK stock opened at $14.82 on Friday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 0.73 and a beta of 2.01. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The company’s fifty day moving average price is $15.83 and its 200-day moving average price is $16.13. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.17). The company had revenue of $639.00 million during the quarter, compared to analysts’ expectations of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s payout ratio is currently 227.27%.

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.