Fisher Asset Management LLC Trims Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Fisher Asset Management LLC reduced its position in Park Hotels & Resorts Inc. (NYSE:PK) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,518,188 shares of the financial services provider’s stock after selling 9,085 shares during the quarter. Fisher Asset Management LLC owned 0.74% of Park Hotels & Resorts worth $21,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 752 shares during the period. Cascade Investment Advisors Inc. raised its position in Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 915 shares during the period. Asset Management One Co. Ltd. raised its position in Park Hotels & Resorts by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock worth $5,043,000 after purchasing an additional 1,011 shares during the period. Tidal Investments LLC raised its position in Park Hotels & Resorts by 5.5% in the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 1,020 shares during the period. Finally, Amalgamated Bank raised its position in Park Hotels & Resorts by 1.1% in the 4th quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 1,089 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

NYSE PK opened at $12.01 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm’s 50 day moving average price is $13.45 and its 200-day moving average price is $14.24. Park Hotels & Resorts Inc. has a 52-week low of $11.95 and a 52-week high of $18.05. The company has a market cap of $2.43 billion, a PE ratio of 11.89, a P/E/G ratio of 1.51 and a beta of 2.00.

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

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.33%. Park Hotels & Resorts’s payout ratio is 99.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PK. Wells Fargo & Company reduced their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. UBS Group dropped 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. Finally, Jefferies Financial Group dropped 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 given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts Company Profile

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.