Walleye Capital LLC Acquires New Position in Park Hotels & Resorts Inc. (NYSE:PK)

Walleye Capital LLC purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,716 shares of the financial services provider’s stock, valued at approximately $151,000.

A number of other large investors also recently bought and sold shares of PK. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts during the third quarter worth approximately $33,000. Venturi Wealth Management LLC increased its position in shares of Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares in the last quarter. Quarry LP increased its position in shares of Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares in the last quarter. Claro Advisors LLC acquired a new stake in shares of Park Hotels & Resorts in the third quarter worth $69,000. Finally, Covestor Ltd increased its position in shares of Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 0.4 %

NYSE PK opened at $15.56 on Thursday. Park Hotels & Resorts Inc. has a 12 month low of $13.23 and a 12 month high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 7.03 and a beta of 2.03. The company’s fifty day moving average price is $14.66 and its two-hundred day moving average price is $14.70.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 16.71%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.32.

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.