New Age Alpha Advisors LLC Invests $1.65 Million in Park Hotels & Resorts Inc. (NYSE:PK)

New Age Alpha Advisors LLC bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 117,267 shares of the financial services provider’s stock, valued at approximately $1,650,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its stake in shares of Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 2,373 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Park Hotels & Resorts during the 3rd quarter worth $116,000. KBC Group NV increased its holdings in 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 during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $141,000. Finally, Merit Financial Group LLC acquired a new position in shares of Park Hotels & Resorts in the 4th quarter valued at about $146,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Park Hotels & Resorts Stock Performance

PK stock opened at $10.90 on Monday. The company has a market cap of $2.20 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts Inc. has a twelve month low of $10.66 and a twelve month high of $17.87. The business’s fifty day moving average is $12.48 and its 200-day moving average is $13.83. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.18%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Park Hotels & Resorts Company 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.