AlphaQuest LLC Sells 18,677 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

AlphaQuest LLC reduced its position in Park Hotels & Resorts Inc. (NYSE:PK) by 84.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,385 shares of the financial services provider’s stock after selling 18,677 shares during the period. AlphaQuest LLC’s holdings in Park Hotels & Resorts were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PK. XTX Topco Ltd grew its holdings in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 72,044 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Park Hotels & Resorts by 321.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after acquiring an additional 1,075,255 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Northeast Financial Group Inc. raised its holdings in Park Hotels & Resorts by 34.4% in the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock worth $1,754,000 after purchasing an additional 31,928 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Park Hotels & Resorts in the third quarter worth $768,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $11.58 on Friday. The stock has a 50 day moving average price of $12.78 and a 200-day moving average price of $13.97. Park Hotels & Resorts Inc. has a one year low of $10.87 and a one year high of $18.05. 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 stock has a market cap of $2.34 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million for 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%. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.64%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Wall Street Analysts Forecast Growth

PK has been the topic of several recent analyst reports. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Jefferies Financial Group decreased their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company 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 six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.15.

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.