Corient Private Wealth LLC Acquires New Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Corient Private Wealth LLC acquired a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,875 shares of the financial services provider’s stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 752 shares in the last quarter. Assetmark Inc. grew its holdings in Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 764 shares during the period. Cascade Investment Advisors Inc. raised its position in Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after acquiring an additional 915 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Park Hotels & Resorts by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after acquiring an additional 1,011 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Park Hotels & Resorts by 5.5% during the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 1.9 %

Shares of Park Hotels & Resorts stock opened at $10.70 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 1 year low of $10.46 and a 1 year high of $17.87. The stock has a 50-day moving average price of $12.42 and a 200 day moving average price of $13.81. The company has a market cap of $2.16 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 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 analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. As a group, analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.35%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

Analysts Set New Price Targets

A number of research firms recently commented on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Truist Financial reduced their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Jefferies Financial Group decreased their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.72.

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.