Ethic Inc. Purchases Shares of 12,065 Park Hotels & Resorts Inc. (NYSE:PK)

Ethic Inc. acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,065 shares of the financial services provider’s stock, valued at approximately $170,000.

Several other institutional investors and hedge funds have also modified their holdings of PK. Barclays PLC lifted its stake in shares of Park Hotels & Resorts by 22.4% during the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after buying an additional 58,432 shares during the period. Merit Financial Group LLC purchased a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $146,000. KBC Group NV lifted its stake in shares of Park Hotels & Resorts by 36.2% during 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 period. Cascade Investment Advisors Inc. lifted its stake in shares of Park Hotels & Resorts by 1.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 915 shares during the period. Finally, Northeast Financial Group Inc. lifted its stake in shares of Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after buying an additional 31,928 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Evercore ISI downgraded shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price objective on the stock. in a research note on Friday. Bank of America downgraded shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 price objective on the stock. in a research note on Wednesday, April 30th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, April 10th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Finally, UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and an average price target of $14.60.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $10.88 on Monday. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.42. The firm has a fifty day moving average of $10.38 and a 200-day moving average of $12.73. The firm has a market capitalization of $2.17 billion, a P/E ratio of 10.77, a PEG ratio of 1.51 and a beta of 1.75. 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 data on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.19%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts’s payout ratio is currently 169.49%.

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.