XTX Topco Ltd Buys 72,044 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

XTX Topco Ltd boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 420.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,168 shares of the financial services provider’s stock after purchasing an additional 72,044 shares during the quarter. XTX Topco Ltd’s holdings in Park Hotels & Resorts were worth $1,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its position in shares of Park Hotels & Resorts by 1,875.4% during the 2nd quarter. CWM LLC now owns 56,258 shares of the financial services provider’s stock valued at $843,000 after acquiring an additional 53,410 shares during the period. Wedmont Private Capital lifted its position in shares of Park Hotels & Resorts by 17.4% during the second quarter. Wedmont Private Capital now owns 13,408 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 1,990 shares in the last quarter. Diversified Trust Co bought a new position in Park Hotels & Resorts in the 2nd quarter worth about $599,000. Vanderbilt University bought a new stake in Park Hotels & Resorts during the 2nd quarter worth approximately $221,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Park Hotels & Resorts by 13.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 154,088 shares of the financial services provider’s stock valued at $2,344,000 after acquiring an additional 18,075 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 1.1 %

Shares of PK stock opened at $15.82 on Tuesday. The stock’s fifty day moving average price is $14.60 and its 200 day moving average price is $14.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 7.03 and a beta of 2.03. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter last year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts expect that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 16.44%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PK. Evercore ISI lowered their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Compass Point cut their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America lowered their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Finally, Truist Financial reduced their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $18.32.

Park Hotels & Resorts Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.