Quantinno Capital Management LP Buys 20,605 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Quantinno Capital Management LP lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 74.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,392 shares of the financial services provider’s stock after purchasing an additional 20,605 shares during the quarter. Quantinno Capital Management LP’s holdings in Park Hotels & Resorts were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC increased its stake in Park Hotels & Resorts by 5.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 821,860 shares of the financial services provider’s stock worth $11,588,000 after acquiring an additional 44,420 shares during the last quarter. Bamco Inc. NY increased its stake in Park Hotels & Resorts by 38.0% in the 3rd quarter. Bamco Inc. NY now owns 495,753 shares of the financial services provider’s stock worth $6,990,000 after acquiring an additional 136,529 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Park Hotels & Resorts in the 3rd quarter worth about $116,000. Verition Fund Management LLC increased its stake in Park Hotels & Resorts by 273.3% in the 3rd quarter. Verition Fund Management LLC now owns 190,054 shares of the financial services provider’s stock worth $2,680,000 after acquiring an additional 139,143 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Park Hotels & Resorts in the 3rd quarter worth about $151,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Trading Down 0.7 %

Shares of PK stock opened at $15.28 on Friday. The stock has a market capitalization of $3.15 billion, a PE ratio of 9.73, a P/E/G ratio of 7.02 and a beta of 2.03. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05. The business has a 50-day moving average of $14.68 and a 200 day moving average of $14.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.65 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 17.02%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Wall Street Analyst Weigh In

PK has been the topic of several recent research reports. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Truist Financial reduced their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. UBS Group increased their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.32.

Park Hotels & Resorts Company Profile

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.