Amalgamated Bank Raises Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Amalgamated Bank lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 98,223 shares of the financial services provider’s stock after buying an additional 1,089 shares during the period. Amalgamated Bank’s holdings in Park Hotels & Resorts were worth $1,382,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Park Hotels & Resorts by 1,310.0% in the 3rd quarter. International Assets Investment Management LLC now owns 21,785 shares of the financial services provider’s stock worth $307,000 after buying an additional 20,240 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Park Hotels & Resorts by 198.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,242 shares of the financial services provider’s stock worth $1,117,000 after acquiring an additional 52,699 shares during the period. abrdn plc lifted its holdings in shares of Park Hotels & Resorts by 10.4% during the 3rd quarter. abrdn plc now owns 42,315 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 3,986 shares during the period. New York State Teachers Retirement System boosted its position in shares of Park Hotels & Resorts by 1.5% in the third quarter. New York State Teachers Retirement System now owns 309,810 shares of the financial services provider’s stock worth $4,368,000 after acquiring an additional 4,702 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Park Hotels & Resorts in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $12.01 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 1-year low of $11.95 and a 1-year high of $18.05. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.51 and a beta of 2.00. The business has a 50-day moving average of $13.45 and a 200-day moving average of $14.24.

Park Hotels & Resorts (NYSE:PK) last released its quarterly 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 company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.33%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group cut their price target on shares of 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. UBS Group reduced their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus 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.