Nebula Research & Development LLC Purchases 7,305 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Nebula Research & Development LLC increased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 26.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,399 shares of the financial services provider’s stock after acquiring an additional 7,305 shares during the quarter. Nebula Research & Development LLC’s holdings in Park Hotels & Resorts were worth $498,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its stake in Park Hotels & Resorts by 22.4% during the 3rd quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after acquiring an additional 58,432 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Park Hotels & Resorts during the 3rd quarter valued at about $477,000. Tidal Investments LLC lifted its stake 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 valued at $275,000 after acquiring an additional 1,020 shares during the period. Franklin Resources Inc. lifted its stake in Park Hotels & Resorts by 43.6% during the 3rd quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider’s stock valued at $9,936,000 after acquiring an additional 208,877 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after acquiring an additional 540,920 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 1.5 %

Shares of PK stock opened at $9.91 on Wednesday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.65. The company’s fifty day moving average price is $10.82 and its 200-day moving average price is $13.06. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $625.00 million for 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%. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Analyst Ratings Changes

PK has been the topic of several research analyst reports. Jefferies Financial Group cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. Truist Financial lowered their target price 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. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.15.

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.