Wealth Enhancement Advisory Services LLC Increases Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Wealth Enhancement Advisory Services LLC boosted its position in Park Hotels & Resorts Inc. (NYSE:PKFree Report) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 79,994 shares of the financial services provider’s stock after buying an additional 752 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Park Hotels & Resorts were worth $1,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at $33,000. Venturi Wealth Management LLC boosted its position in shares of Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,841 shares in the last quarter. Quarry LP grew its stake in Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,857 shares during the last quarter. Claro Advisors LLC purchased a new position in Park Hotels & Resorts during the 3rd quarter valued at about $69,000. Finally, Covestor Ltd raised its position in Park Hotels & Resorts by 64.8% during 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 during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Compass Point cut their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, UBS Group boosted their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $18.65.

Check Out Our Latest Report on Park Hotels & Resorts

Park Hotels & Resorts Stock Performance

Shares of PK opened at $13.82 on Thursday. The firm has a market capitalization of $2.85 billion, a PE ratio of 8.80, a P/E/G ratio of 6.90 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $14.80 and a 200 day moving average price of $14.57. Park Hotels & Resorts Inc. has a 52-week low of $13.22 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PKGet Free Report) 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 return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period in the prior year, the firm posted $0.51 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.65 dividend. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 18.81%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Park Hotels & Resorts Company Profile

(Free Report)

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.

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

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