Quadrant Capital Group LLC Has $68,000 Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Quadrant Capital Group LLC raised its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 38.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,814 shares of the financial services provider’s stock after purchasing an additional 1,335 shares during the period. Quadrant Capital Group LLC’s holdings in Park Hotels & Resorts were worth $68,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Park Hotels & Resorts in the fourth quarter valued at about $112,000. KBC Group NV raised its stake in Park Hotels & Resorts by 36.2% during the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 2,663 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Park Hotels & Resorts in the fourth quarter worth about $141,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at approximately $146,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Trading Down 6.4 %

Shares of PK stock opened at $9.43 on Friday. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $17.63. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.51 and a beta of 1.73. The stock has a 50-day moving average of $11.65 and a 200-day moving average of $13.47.

Park Hotels & Resorts (NYSE:PK) last released 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 firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.61%. Park Hotels & Resorts’s payout ratio is 99.01%.

Analyst Upgrades and Downgrades

PK has been the subject of a number of research analyst reports. UBS Group lowered 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 report on Monday, February 3rd. Truist Financial lowered their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wells Fargo & Company dropped their price target on 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. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Jefferies Financial Group downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their target price for the company from $19.00 to $10.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.39.

About Park Hotels & Resorts

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.