Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 97.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,227 shares of the financial services provider’s stock after selling 273,807 shares during the period. SG Americas Securities LLC’s holdings in Park Hotels & Resorts were worth $126,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management increased its position in Park Hotels & Resorts by 20.1% during the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 860 shares during the last quarter. Covestor Ltd increased its position in Park Hotels & Resorts by 31.5% during the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,340 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Park Hotels & Resorts by 353.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,055 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 5,500 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Park Hotels & Resorts during the second quarter worth about $104,000. Finally, L2 Asset Management LLC acquired a new stake in Park Hotels & Resorts during the third quarter worth about $130,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 1.2 %

NYSE PK opened at $16.30 on Thursday. The firm has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $15.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 0.65 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The company had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.13%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s payout ratio is currently 217.39%.

Wall Street Analyst Weigh In

PK has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Truist Financial lifted their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.58.

About Park Hotels & Resorts

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.