Amalgamated Bank Trims Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Amalgamated Bank lowered its position in Park Hotels & Resorts Inc. (NYSE:PKGet Rating) by 3.5% during the 1st quarter, HoldingsChannel reports. The fund owned 163,264 shares of the financial services provider’s stock after selling 6,005 shares during the period. Amalgamated Bank’s holdings in Park Hotels & Resorts were worth $3,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PK. Rockefeller Capital Management L.P. grew its holdings in shares of Park Hotels & Resorts by 166.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 948 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Park Hotels & Resorts during the 4th quarter worth about $43,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Park Hotels & Resorts by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 1,022 shares in the last quarter. Prospera Financial Services Inc bought a new position in Park Hotels & Resorts during the 1st quarter worth about $133,000. Finally, Wetherby Asset Management Inc. bought a new position in Park Hotels & Resorts during the 4th quarter worth about $193,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Evercore ISI reiterated an “in-line” rating and set a $22.50 target price on shares of Park Hotels & Resorts in a report on Monday, July 11th. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Sumitomo Mitsui Financial Group cut shares of Park Hotels & Resorts from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday, August 8th. UBS Group dropped their target price on shares of Park Hotels & Resorts to $15.00 in a report on Tuesday, September 6th. Finally, Truist Financial upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $22.00 in a report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.79.

Park Hotels & Resorts Stock Performance

PK opened at $12.30 on Friday. Park Hotels & Resorts Inc. has a 12-month low of $12.16 and a 12-month high of $21.62. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $2.87 billion, a PE ratio of -55.91 and a beta of 1.94. The firm has a 50 day moving average of $14.67 and a two-hundred day moving average of $16.50.

Park Hotels & Resorts (NYSE:PKGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.19. Park Hotels & Resorts had a negative net margin of 2.93% and a negative return on equity of 1.38%. The company had revenue of $695.00 million during the quarter, compared to analyst estimates of $661.19 million. On average, analysts anticipate that Park Hotels & Resorts Inc. will post 1.49 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Thursday, September 29th. Park Hotels & Resorts’s dividend payout ratio is presently -18.18%.

Park Hotels & Resorts Company Profile

(Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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