Fisher Asset Management LLC Cuts Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Fisher Asset Management LLC reduced its position in Park Hotels & Resorts Inc. (NYSE:PK) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,518,188 shares of the financial services provider’s stock after selling 9,085 shares during the quarter. Fisher Asset Management LLC’s holdings in Park Hotels & Resorts were worth $21,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH grew its holdings in Park Hotels & Resorts by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock worth $50,426,000 after purchasing an additional 125,730 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after buying an additional 66,093 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Park Hotels & Resorts by 26.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock worth $34,384,000 after buying an additional 518,727 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Park Hotels & Resorts by 2.0% during the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider’s stock worth $31,937,000 after buying an additional 44,606 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Down 2.2 %

NYSE PK opened at $12.01 on Tuesday. The company has a market capitalization of $2.43 billion, a PE ratio of 11.89, a P/E/G ratio of 1.51 and a beta of 2.00. The company has a fifty day moving average of $13.45 and a 200 day moving average of $14.24. Park Hotels & Resorts Inc. has a 1 year low of $11.95 and a 1 year high of $18.05. 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 earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 8.33%. Park Hotels & Resorts’s payout ratio is 99.01%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Wells Fargo & Company lowered their price objective 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. 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 note on Monday, February 3rd. Finally, Jefferies Financial Group lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.15.

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.