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

Prevail Innovative Wealth Advisors LLC lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 128.3% during the 4th quarter, HoldingsChannel reports. The firm owned 121,517 shares of the financial services provider’s stock after acquiring an additional 68,290 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Park Hotels & Resorts were worth $1,710,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PK. Arrowstreet Capital Limited Partnership grew its stake in shares of Park Hotels & Resorts by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider’s stock worth $94,160,000 after buying an additional 1,056,188 shares during the last quarter. Allianz Asset Management GmbH grew its position in Park Hotels & Resorts by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock worth $50,426,000 after acquiring an additional 125,730 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 worth $49,182,000 after acquiring an additional 540,920 shares during the last quarter. Norges Bank acquired a new position in Park Hotels & Resorts in the 4th quarter worth about $41,087,000. Finally, Charles Schwab Investment Management Inc. raised its position in Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after purchasing an additional 66,093 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 2.3 %

Shares of Park Hotels & Resorts stock opened at $10.90 on Friday. The stock has a market capitalization of $2.20 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52 week low of $10.84 and a 52 week high of $17.87. The stock has a 50 day moving average price of $12.48 and a two-hundred day moving average price of $13.83. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last issued 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). The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. As a group, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm 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 of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Analyst Ratings Changes

Several research firms have recently issued reports on PK. Truist Financial lowered their price objective on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. UBS Group dropped their price target 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. Jefferies Financial Group reduced their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $17.72.

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.