LSV Asset Management Acquires 97,900 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

LSV Asset Management lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 23.3% during the 4th quarter, Holdings Channel reports. The fund owned 518,200 shares of the financial services provider’s stock after acquiring an additional 97,900 shares during the quarter. LSV Asset Management’s holdings in Park Hotels & Resorts were worth $7,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GraniteShares Advisors LLC acquired a new position in Park Hotels & Resorts during the 4th quarter worth $1,469,000. Louisiana State Employees Retirement System acquired a new position in Park Hotels & Resorts during the 4th quarter worth $903,000. Donald Smith & CO. Inc. lifted its holdings in Park Hotels & Resorts by 36.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after buying an additional 1,728,921 shares in the last quarter. FMR LLC raised its position in shares of Park Hotels & Resorts by 18.2% during the 3rd quarter. FMR LLC now owns 884,843 shares of the financial services provider’s stock valued at $10,901,000 after acquiring an additional 136,434 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Park Hotels & Resorts by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock valued at $407,911,000 after acquiring an additional 347,812 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PK. Barclays upped their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Wells Fargo & Company increased their target price on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Finally, UBS Group boosted 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’s stock. According to data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $17.27.

Park Hotels & Resorts Trading Down 1.6 %

NYSE:PK opened at $16.13 on Wednesday. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $3.40 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 0.83 and a beta of 2.03. The business’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $15.67.

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

Park Hotels & Resorts Announces Dividend

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

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.