Hotchkis & Wiley Capital Management LLC Has $11.59 Million Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Hotchkis & Wiley Capital Management LLC raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 821,860 shares of the financial services provider’s stock after acquiring an additional 44,420 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.40% of Park Hotels & Resorts worth $11,588,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PK. Bamco Inc. NY grew its stake in shares of 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 valued at $6,990,000 after purchasing an additional 136,529 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $116,000. Verition Fund Management LLC grew its position in Park Hotels & Resorts by 273.3% during 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. Walleye Capital LLC bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $151,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Park Hotels & Resorts by 321.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after acquiring an additional 1,075,255 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 2.8 %

Shares of NYSE:PK opened at $15.81 on Wednesday. The company has a fifty day moving average of $14.50 and a 200-day moving average of $14.71. The company has a market capitalization of $3.26 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 6.91 and a beta of 2.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 1.97 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 16.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 63.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PK shares. UBS Group increased their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Compass Point decreased their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $14.50 to $16.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI lowered their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.23.

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.