Virtu Financial LLC Acquires New Shares in Park Hotels & Resorts Inc. (NYSE:PK)

Virtu Financial LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,128 shares of the financial services provider’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP raised its holdings in shares of Park Hotels & Resorts by 120.1% during the 4th quarter. Quantbot Technologies LP now owns 70,599 shares of the financial services provider’s stock valued at $993,000 after purchasing an additional 38,527 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Park Hotels & Resorts by 35.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,807 shares of the financial services provider’s stock worth $1,573,000 after purchasing an additional 29,432 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in Park Hotels & Resorts during the fourth quarter worth $280,000. Xponance Inc. raised its holdings in Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after buying an additional 892 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Park Hotels & Resorts by 43.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 94,220 shares of the financial services provider’s stock worth $1,326,000 after buying an additional 28,379 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Down 0.9 %

Shares of PK opened at $11.17 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The company has a 50-day simple moving average of $12.54 and a 200-day simple moving average of $13.85. Park Hotels & Resorts Inc. has a 52 week low of $10.87 and a 52 week high of $17.87. The firm has a market capitalization of $2.25 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.96%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PK shares. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial dropped their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. UBS Group dropped 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 report on Monday, February 3rd. Finally, Jefferies Financial Group decreased their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.72.

Park Hotels & Resorts 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.