EMC Capital Management Has $282,000 Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

EMC Capital Management lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 77.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,068 shares of the financial services provider’s stock after purchasing an additional 8,742 shares during the quarter. EMC Capital Management’s holdings in Park Hotels & Resorts were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PK. Harbor Capital Advisors Inc. bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth about $33,000. Venturi Wealth Management LLC lifted its stake in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP grew its position in shares of Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,857 shares during the period. Claro Advisors LLC acquired a new stake in Park Hotels & Resorts during the 3rd quarter worth $69,000. Finally, Covestor Ltd increased its holdings in Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PK. Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group decreased their price target on shares of 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. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday. UBS Group boosted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company raised their target price on shares of 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. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock traded up $0.15 during trading hours on Thursday, hitting $13.50. The company had a trading volume of 226,980 shares, compared to its average volume of 3,284,981. Park Hotels & Resorts Inc. has a one year low of $13.22 and a one year high of $18.05. The firm has a market cap of $2.79 billion, a PE ratio of 8.59, a PEG ratio of 5.69 and a beta of 2.02. The firm has a 50-day moving average of $14.62 and a 200 day moving average of $14.52. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The firm had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Park Hotels & Resorts’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, sell-side analysts expect that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current 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 issued a dividend of $0.65 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.26%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Park Hotels & Resorts Company 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.