Metis Global Partners LLC Boosts Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Metis Global Partners LLC lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,960 shares of the financial services provider’s stock after buying an additional 2,446 shares during the period. Metis Global Partners LLC’s holdings in Park Hotels & Resorts were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allianz Asset Management GmbH lifted its stake in shares of Park Hotels & Resorts by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock worth $50,426,000 after buying an additional 125,730 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 worth $40,928,000 after buying an additional 66,093 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Park Hotels & Resorts by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock worth $34,384,000 after buying an additional 518,727 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in shares of Park Hotels & Resorts by 2.0% in the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider’s stock worth $31,937,000 after buying an additional 44,606 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Shares of PK opened at $11.91 on Thursday. Park Hotels & Resorts Inc. has a 1-year low of $11.51 and a 1-year high of $18.05. The stock has a market cap of $2.41 billion, a PE ratio of 11.80, a P/E/G ratio of 1.51 and a beta of 2.00. The firm has a 50-day simple moving average of $13.32 and a two-hundred day simple moving average of $14.21. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.39%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Analyst Ratings Changes

A number of equities analysts have commented on PK shares. UBS Group reduced their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Wells Fargo & Company reduced their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group reduced their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.15.

About Park Hotels & Resorts

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.