Los Angeles Capital Management LLC Has $8.07 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Los Angeles Capital Management LLC decreased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 72.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 573,544 shares of the financial services provider’s stock after selling 1,473,127 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.28% of Park Hotels & Resorts worth $8,070,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 752 shares during the last quarter. Cascade Investment Advisors Inc. lifted its holdings in Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 915 shares during the period. Asset Management One Co. Ltd. boosted its stake in Park Hotels & Resorts by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after acquiring an additional 1,011 shares during the last quarter. Tidal Investments LLC grew its holdings in Park Hotels & Resorts by 5.5% during the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 1,020 shares during the period. Finally, Amalgamated Bank raised its position in shares of Park Hotels & Resorts by 1.1% during the 4th quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider’s stock valued at $1,382,000 after acquiring an additional 1,089 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PK. Jefferies Financial Group reduced their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group reduced their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Compass Point reduced their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.15.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $12.33 on Thursday. The firm’s 50 day moving average price is $13.65 and its two-hundred day moving average price is $14.29. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a twelve month low of $12.23 and a twelve month high of $18.05. The firm has a market cap of $2.49 billion, a P/E ratio of 12.21, a PEG ratio of 1.51 and a beta of 2.00.

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

Park Hotels & Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.11%. Park Hotels & Resorts’s payout ratio is presently 99.01%.

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.