Prevail Innovative Wealth Advisors LLC Acquires 68,290 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 128.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,517 shares of the financial services provider’s stock after buying an additional 68,290 shares during the quarter. Prevail Innovative Wealth Advisors LLC owned approximately 0.06% of Park Hotels & Resorts worth $1,710,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PK. XTX Topco Ltd grew its position in shares of Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 72,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Park Hotels & Resorts by 321.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after purchasing an additional 1,075,255 shares during the period. JPMorgan Chase & Co. increased its position in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares during the last quarter. Northeast Financial Group Inc. raised its stake in Park Hotels & Resorts by 34.4% in the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after buying an additional 31,928 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in shares of Park Hotels & Resorts in the third quarter valued at approximately $768,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PK has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on 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. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Jefferies Financial Group reduced 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 report on Thursday, January 2nd. UBS Group lowered their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial decreased their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $17.72.

Park Hotels & Resorts Trading Down 2.3 %

Shares of PK stock opened at $10.90 on Friday. The stock has a 50 day simple moving average of $12.48 and a 200 day simple moving average of $13.83. Park Hotels & Resorts Inc. has a 1 year low of $10.84 and a 1 year high of $17.87. 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 $2.20 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02.

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

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.18%. Park Hotels & Resorts’s dividend payout ratio is 99.01%.

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.