Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 680,058 shares of the financial services provider’s stock after selling 44,961 shares during the period. Alliancebernstein L.P. owned approximately 0.33% of Park Hotels & Resorts worth $9,568,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PK. Walleye Capital LLC acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $151,000. Quantinno Capital Management LP grew its position in Park Hotels & Resorts by 74.2% during the third quarter. Quantinno Capital Management LP now owns 48,392 shares of the financial services provider’s stock valued at $682,000 after acquiring an additional 20,605 shares during the period. EP Wealth Advisors LLC acquired a new stake in Park Hotels & Resorts during the third quarter worth about $224,000. MML Investors Services LLC raised its holdings in shares of Park Hotels & Resorts by 55.1% in the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 8,749 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Park Hotels & Resorts by 81.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 18,892 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Down 6.4 %

PK opened at $9.43 on Friday. The firm’s fifty day moving average price is $11.65 and its 200 day moving average price is $13.47. The stock has a market capitalization of $1.90 billion, a PE ratio of 9.33, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $17.63. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (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 firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced 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 of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.61%. Park Hotels & Resorts’s payout ratio is currently 99.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PK shares. UBS Group decreased 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 research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price objective for the company from $19.00 to $10.00 in a research note on Wednesday. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Truist Financial dropped their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.39.

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.