ING Groep NV Takes $3.52 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

ING Groep NV purchased a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 250,000 shares of the financial services provider’s stock, valued at approximately $3,518,000. ING Groep NV owned approximately 0.12% of Park Hotels & Resorts as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in 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 acquiring an additional 752 shares in the last quarter. Cascade Investment Advisors Inc. increased its position in shares of 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 worth $1,034,000 after purchasing an additional 915 shares during the period. Asset Management One Co. Ltd. raised 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 purchasing an additional 1,011 shares in the last quarter. Tidal Investments LLC lifted its position in Park Hotels & Resorts by 5.5% during the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 1,020 shares during the period. Finally, KBC Group NV grew its stake in Park Hotels & Resorts by 34.4% during the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,882 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $12.63 on Friday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.51 and a beta of 2.00. 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 business’s 50-day moving average price is $13.77 and its 200-day moving average price is $14.31. Park Hotels & Resorts Inc. has a 12 month low of $12.52 and a 12 month high of $18.05.

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

Park Hotels & Resorts Cuts Dividend

The business 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 $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 7.92%. Park Hotels & Resorts’s payout ratio is 99.01%.

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.