New Age Alpha Advisors LLC Purchases Shares of 117,267 Park Hotels & Resorts Inc. (NYSE:PK)

New Age Alpha Advisors LLC purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 117,267 shares of the financial services provider’s stock, valued at approximately $1,650,000. New Age Alpha Advisors LLC owned 0.06% of Park Hotels & Resorts at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Park Hotels & Resorts during the third quarter valued at $116,000. KBC Group NV grew its stake in 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 worth $141,000 after buying an additional 2,663 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at about $141,000. Finally, Merit Financial Group LLC bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at $146,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $10.90 on Monday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.51 and a beta of 2.02. The company has a fifty day simple moving average of $12.48 and a 200-day simple moving average of $13.83. Park Hotels & Resorts Inc. has a 52-week low of $10.66 and a 52-week high of $17.87. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 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 business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.18%. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Analyst Ratings Changes

A number of research analysts have issued reports on PK shares. Truist Financial reduced their price objective 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 cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group decreased their target price on 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. Finally, Wells Fargo & Company lowered their target price 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus price target of $17.72.

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.