Park Hotels & Resorts Inc. (NYSE:PK) Shares Bought by abrdn plc

abrdn plc boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 66.4% during the 4th quarter, Holdings Channel reports. The firm owned 70,420 shares of the financial services provider’s stock after acquiring an additional 28,105 shares during the quarter. abrdn plc’s holdings in Park Hotels & Resorts were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Creative Planning grew its holdings in shares of Park Hotels & Resorts by 39.0% during the second quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock valued at $392,000 after buying an additional 7,348 shares during the last quarter. Truist Financial Corp lifted its position in Park Hotels & Resorts by 129.1% during the 2nd quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock worth $799,000 after acquiring an additional 30,043 shares during the period. Sanctuary Advisors LLC purchased a new stake in Park Hotels & Resorts during the 2nd quarter valued at about $204,000. CWM LLC increased its holdings in shares of Park Hotels & Resorts by 98.4% in the third quarter. CWM LLC now owns 111,611 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 55,353 shares during the period. Finally, Bfsg LLC raised its stake in shares of Park Hotels & Resorts by 8.7% in the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,235 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PK has been the topic of a number of recent research reports. UBS Group dropped their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Bank of America reduced their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Jefferies Financial Group decreased their target price 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. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.45.

Park Hotels & Resorts Trading Down 1.9 %

Shares of Park Hotels & Resorts stock opened at $12.94 on Tuesday. The firm has a 50-day simple moving average of $14.31 and a two-hundred day simple moving average of $14.43. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. Park Hotels & Resorts Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $18.05. The company has a market cap of $2.67 billion, a P/E ratio of 8.24 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 20.10%. Park Hotels & Resorts’s payout ratio is 63.69%.

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.