Quantbot Technologies LP Boosts Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Quantbot Technologies LP grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 95.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 367,900 shares of the financial services provider’s stock after buying an additional 179,884 shares during the quarter. Quantbot Technologies LP owned 0.17% of Park Hotels & Resorts worth $5,511,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Park Hotels & Resorts by 7.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 324,774 shares of the financial services provider’s stock valued at $4,865,000 after buying an additional 21,994 shares during the period. Federated Hermes Inc. boosted its stake in shares of Park Hotels & Resorts by 12.2% in the second quarter. Federated Hermes Inc. now owns 152,516 shares of the financial services provider’s stock valued at $2,285,000 after buying an additional 16,591 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in Park Hotels & Resorts by 286.9% during the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after acquiring an additional 1,925,850 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in Park Hotels & Resorts by 20.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 204,422 shares of the financial services provider’s stock worth $3,062,000 after acquiring an additional 35,219 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

PK has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Barclays upped their price target on Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Evercore ISI reduced their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Wedbush reissued a “neutral” rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $16.96.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.04 on Monday. The company has a market cap of $2.93 billion, a P/E ratio of 31.91, a P/E/G ratio of 0.66 and a beta of 2.02. The business has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $15.63. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The company had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s payout ratio is currently 227.28%.

About Park Hotels & Resorts

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.