Two Sigma Securities LLC Purchases Shares of 36,970 Park Hotels & Resorts Inc. $PK

Two Sigma Securities LLC purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,970 shares of the financial services provider’s stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PK. BlackRock Inc. purchased a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at about $444,311,000. Donald Smith & CO. Inc. bought a new stake in Park Hotels & Resorts in the 2nd quarter worth approximately $207,120,000. Bank of America Corp DE purchased a new stake in Park Hotels & Resorts in the second quarter worth approximately $136,488,000. Sculptor Capital LP boosted its stake in Park Hotels & Resorts by 154.1% in the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after acquiring an additional 3,361,382 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 2.3%

Shares of NYSE PK opened at $15.56 on Thursday. The firm’s fifty day moving average is $14.92 and its 200 day moving average is $12.82. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $16.20. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -18.75, a PEG ratio of 1.98 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.83 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Wednesday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -120.48%.

Analyst Ratings Changes

Several research analysts have commented on PK shares. LADENBURG THALM/SH SH lifted their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Truist Financial increased their target price on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $14.00 to $18.00 in a research note on Tuesday. Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $18.00 target price on shares of Park Hotels & Resorts in a research note on Friday, August 14th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.42.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.