Virtu Financial LLC Makes New $311,000 Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Virtu Financial LLC bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 22,128 shares of the financial services provider’s stock, valued at approximately $311,000.

Several other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its position in Park Hotels & Resorts by 42.2% during the 4th 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Park Hotels & Resorts during the third quarter worth $116,000. Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at $141,000. KBC Group NV increased its stake in shares of Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock valued at $141,000 after buying an additional 2,663 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at about $146,000. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PK shares. Jefferies Financial Group lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Truist Financial dropped their price objective on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wells Fargo & Company reduced their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, UBS Group cut their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.72.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $11.17 on Friday. The firm has a market cap of $2.25 billion, a P/E ratio of 11.05, a PEG ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts Inc. has a twelve month low of $10.87 and a twelve month high of $17.87. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm’s 50 day moving average price is $12.54 and its two-hundred day moving average price is $13.85.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, analysts forecast 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 will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.96%. Park Hotels & Resorts’s dividend payout ratio is currently 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.