Renaissance Technologies LLC Has $3.19 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Renaissance Technologies LLC trimmed its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 79.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,912 shares of the financial services provider’s stock after selling 855,761 shares during the quarter. Renaissance Technologies LLC owned approximately 0.11% of Park Hotels & Resorts worth $3,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its holdings in Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,335 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,373 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Park Hotels & Resorts in the fourth quarter valued at approximately $112,000. KBC Group NV increased its position in Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 2,663 shares during the period. Finally, Plato Investment Management Ltd bought a new position in Park Hotels & Resorts during the 4th quarter worth approximately $141,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PK. Jefferies Financial Group cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. UBS Group decreased their target price 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. Finally, Morgan Stanley dropped their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $15.75.

Park Hotels & Resorts Stock Performance

PK opened at $9.89 on Thursday. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.95. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.51 and a beta of 1.73. 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 company’s fifty day moving average price is $11.07 and its two-hundred day moving average price is $13.19.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share 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 company had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. On average, analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.11%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Park Hotels & Resorts Profile

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.