Stevens Capital Management LP Acquires New Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Stevens Capital Management LP acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,039 shares of the financial services provider’s stock, valued at approximately $307,000.

Other large investors also recently bought and sold shares of the company. Cascade Investment Advisors Inc. increased its holdings in shares of Park Hotels & Resorts by 1.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 725 shares during the last quarter. Signaturefd LLC boosted its position in shares of Park Hotels & Resorts by 12.7% in the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 727 shares during the period. Spire Wealth Management lifted its position in Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares during the period. Covestor Ltd lifted its position in Park Hotels & Resorts by 31.5% during the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,340 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Park Hotels & Resorts by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 1,714 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

PK traded up $0.24 during trading on Friday, reaching $16.57. 1,528,050 shares of the stock were exchanged, compared to its average volume of 2,756,584. The business’s 50 day moving average price is $16.88 and its two-hundred day moving average price is $15.38. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 0.86 and a beta of 2.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. As a group, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is currently 217.39%.

Analyst Ratings Changes

PK has been the subject of a number of recent research reports. Jefferies Financial Group raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Barclays increased their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. UBS Group increased their price objective on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Truist Financial raised their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts 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.