Prospera Financial Services Inc Makes New $133,000 Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Prospera Financial Services Inc purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,790 shares of the financial services provider’s stock, valued at approximately $133,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its stake in shares of Park Hotels & Resorts by 166.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 948 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $43,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Park Hotels & Resorts by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,022 shares during the last quarter. Wetherby Asset Management Inc. bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $193,000. Finally, Commerce Bank bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $244,000. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research report on Tuesday, May 3rd. Evercore ISI restated an “in-line” rating and issued a $22.50 price objective on shares of Park Hotels & Resorts in a research report on Monday, July 11th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Finally, Truist Financial upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $19.00 to $22.00 in a research report on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.44.

Insider Activity

In related news, Director Thomas D. Eckert acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average cost of $15.12 per share, with a total value of $151,200.00. Following the transaction, the director now owns 96,637 shares of the company’s stock, valued at approximately $1,461,151.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.09% of the stock is owned by company insiders.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $15.05 on Friday. Park Hotels & Resorts Inc. has a 12-month low of $12.90 and a 12-month high of $21.62. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -10.99 and a beta of 1.94. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.09. The firm has a fifty day moving average of $15.30 and a 200-day moving average of $17.48.

Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.21). Park Hotels & Resorts had a negative net margin of 19.45% and a negative return on equity of 7.37%. The firm had revenue of $479.00 million during the quarter, compared to analyst estimates of $420.53 million. During the same period last year, the firm earned ($0.48) EPS. Park Hotels & Resorts’s quarterly revenue was up 190.3% on a year-over-year basis. On average, equities research analysts forecast that Park Hotels & Resorts Inc. will post 1.45 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Wednesday, June 29th. Park Hotels & Resorts’s dividend payout ratio (DPR) is -2.92%.

About Park Hotels & Resorts

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Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.