LSV Asset Management Raises Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

LSV Asset Management grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 518,200 shares of the financial services provider’s stock after acquiring an additional 97,900 shares during the period. LSV Asset Management owned about 0.25% of Park Hotels & Resorts worth $7,928,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $42,000. Spire Wealth Management raised its stake in shares of Park Hotels & Resorts by 20.1% in the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 860 shares during the period. Covestor Ltd raised its stake in shares of Park Hotels & Resorts by 31.5% in the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,340 shares during the period. Signaturefd LLC raised its stake in shares of Park Hotels & Resorts by 12.7% in the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 727 shares during the period. Finally, L2 Asset Management LLC purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $130,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Truist Financial raised their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $20.00 in a report on Friday, March 22nd. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $17.27.

Park Hotels & Resorts Stock Down 1.6 %

PK stock opened at $16.13 on Wednesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 0.83 and a beta of 2.03. Park Hotels & Resorts Inc. has a 1-year low of $11.05 and a 1-year high of $18.05. The firm has a fifty day moving average price of $16.98 and a two-hundred day moving average price of $15.67. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. Research analysts predict that Park Hotels & Resorts Inc. will post 2.06 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.20%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

About Park Hotels & Resorts

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.