Coombe Bender & Co LLC Acquires 13,740 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Coombe Bender & Co LLC raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 321,159 shares of the financial services provider’s stock after purchasing an additional 13,740 shares during the period. Park Hotels & Resorts accounts for approximately 3.1% of Coombe Bender & Co LLC’s investment portfolio, making the stock its 11th biggest position. Coombe Bender & Co LLC owned approximately 0.15% of Park Hotels & Resorts worth $4,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cascade Investment Advisors Inc. raised its stake in Park Hotels & Resorts by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 725 shares during the last quarter. Signaturefd LLC boosted its position in shares of Park Hotels & Resorts by 12.7% during the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 727 shares in the last quarter. Truist Financial Corp grew its stake in Park Hotels & Resorts by 3.8% during the fourth quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 816 shares during the period. Spire Wealth Management increased its holdings in Park Hotels & Resorts by 20.1% in the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 860 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Park Hotels & Resorts by 31.5% in the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,340 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday. Truist Financial raised their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company upped their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Barclays lifted their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts Price Performance

NYSE PK traded down $0.14 during trading hours on Thursday, hitting $15.83. The company had a trading volume of 905,083 shares, compared to its average volume of 2,798,001. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. The firm has a 50 day simple moving average of $16.97 and a 200 day simple moving average of $15.52.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.05%. The firm had revenue of $657.00 million during the quarter, compared to analyst estimates of $665.16 million. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.32%. Park Hotels & Resorts’s payout ratio is 227.28%.

Park Hotels & Resorts Profile

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.