Renaissance Technologies LLC Takes $25.37 Million Position in Park Hotels & Resorts Inc (PK)

Renaissance Technologies LLC acquired a new position in shares of Park Hotels & Resorts Inc (NYSE:PK) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 882,363 shares of the financial services provider’s stock, valued at approximately $25,368,000. Renaissance Technologies LLC owned approximately 0.41% of Park Hotels & Resorts at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PK. American International Group Inc. increased its stake in Park Hotels & Resorts by 170.0% during the 4th quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock worth $137,000 after buying an additional 3,005 shares in the last quarter. Omnia Family Wealth LLC increased its stake in Park Hotels & Resorts by 172.1% during the 4th quarter. Omnia Family Wealth LLC now owns 5,025 shares of the financial services provider’s stock worth $147,000 after buying an additional 3,178 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $207,000. Parallel Advisors LLC increased its stake in Park Hotels & Resorts by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,273 shares of the financial services provider’s stock worth $209,000 after buying an additional 2,484 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $216,000.

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A number of equities research analysts have recently issued reports on PK shares. Bank of America lowered Park Hotels & Resorts from a “neutral” rating to an “underperform” rating in a research report on Monday, March 5th. Nomura dropped their price target on Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Boenning Scattergood lowered Park Hotels & Resorts from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 21st. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Finally, Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.23.

PK stock opened at $26.08 on Friday. Park Hotels & Resorts Inc has a twelve month low of $23.91 and a twelve month high of $29.93. The company has a market capitalization of $5,673.02, a P/E ratio of 9.45, a P/E/G ratio of 1.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.29.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, March 1st. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). Park Hotels & Resorts had a net margin of 94.05% and a return on equity of 43.23%. The business had revenue of $686.00 million during the quarter, compared to analyst estimates of $673.89 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. equities analysts anticipate that Park Hotels & Resorts Inc will post 2.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Wednesday, March 28th. Park Hotels & Resorts’s dividend payout ratio is presently 17.89%.

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Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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