Twinbeech Capital LP Acquires 68,950 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Twinbeech Capital LP raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 396.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,333 shares of the financial services provider’s stock after purchasing an additional 68,950 shares during the period. Twinbeech Capital LP’s holdings in Park Hotels & Resorts were worth $1,215,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Northeast Financial Group Inc. raised its stake in 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 worth $1,754,000 after buying an additional 31,928 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Park Hotels & Resorts by 15.8% during the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 4,533 shares during the period. American Century Companies Inc. raised its position in shares of Park Hotels & Resorts by 12.3% in the 4th quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 1,816 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Park Hotels & Resorts by 1,087.0% in the 4th quarter. Federated Hermes Inc. now owns 149,192 shares of the financial services provider’s stock valued at $2,099,000 after purchasing an additional 136,623 shares during the period. Finally, KBC Group NV lifted its stake in shares of Park Hotels & Resorts by 36.2% in the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 2,663 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Trading Down 3.4%

PK opened at $10.23 on Thursday. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.42. The firm has a market capitalization of $2.04 billion, a PE ratio of 10.13, a P/E/G ratio of 1.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The company’s 50-day moving average is $10.34 and its 200 day moving average is $12.68.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.78%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts’s payout ratio is currently 169.49%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial lowered their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. UBS Group cut their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Finally, Morgan Stanley cut their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.60.

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.