Xponance Inc. Reduces Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Xponance Inc. reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,873 shares of the financial services provider’s stock after selling 1,197 shares during the period. Xponance Inc.’s holdings in Park Hotels & Resorts were worth $396,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $42,000. Spire Wealth Management lifted its stake in shares of Park Hotels & Resorts by 20.1% in the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 860 shares during the period. Covestor Ltd lifted its stake in shares of Park Hotels & Resorts by 31.5% in the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,340 shares during the period. L2 Asset Management LLC acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $130,000. Finally, Inspire Advisors LLC acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $153,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $16.57 on Friday. The firm has a 50-day simple moving average of $16.91 and a 200-day simple moving average of $15.43. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 0.85 and a beta of 2.03. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is currently 217.39%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Truist Financial upped their price objective on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts Company 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.