Optimize Financial Inc Buys New Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Optimize Financial Inc purchased a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,223 shares of the financial services provider’s stock, valued at approximately $144,000.

A number of other institutional investors also recently added to or reduced their stakes in PK. Quadrant Capital Group LLC lifted its position in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,335 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 2,373 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Park Hotels & Resorts in the 4th quarter worth about $112,000. KBC Group NV grew its holdings in shares of 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 purchasing an additional 2,663 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $141,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PK shares. UBS Group dropped their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Truist Financial decreased their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Wells Fargo & Company dropped 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. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.39.

Park Hotels & Resorts Stock Up 0.9 %

Shares of NYSE PK opened at $9.52 on Monday. The firm has a 50 day moving average price of $11.58 and a 200 day moving average price of $13.42. 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 stock has a market cap of $1.92 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $17.26.

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

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.51%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

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.