Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,281 shares of the financial services provider’s stock after acquiring an additional 16,279 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Park Hotels & Resorts worth $1,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd increased its holdings in shares of Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 72,044 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after purchasing an additional 1,075,255 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Northeast Financial Group Inc. raised its holdings in Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock worth $1,754,000 after purchasing an additional 31,928 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $768,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PK. Jefferies Financial Group cut their price target 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 cut their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, UBS Group dropped their price target on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.15.

Park Hotels & Resorts Trading Up 3.4 %

NYSE:PK opened at $11.74 on Tuesday. Park Hotels & Resorts Inc. has a 12-month low of $10.87 and a 12-month high of $18.05. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The stock’s 50 day simple moving average is $12.90 and its 200-day simple moving average is $14.03. The firm has a market cap of $2.37 billion, a P/E ratio of 11.62, a PEG ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced 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). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.52%. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

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.