Park Hotels & Resorts (NYSE:PK) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Park Hotels & Resorts Inc. (NYSE:PK) saw strong trading volume on Tuesday . 3,499,974 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 4,301,219 shares.The stock last traded at $14.3560 and had previously closed at $14.12.

Analysts Set New Price Targets

Several research firms have recently issued reports on PK. LADENBURG THALM/SH SH began coverage on Park Hotels & Resorts in a report on Thursday, March 26th. They issued a “buy” rating and a $16.00 target price for the company. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Barclays lifted their price target on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Morgan Stanley lifted their price target on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts currently has an average rating of “Reduce” and an average target price of $12.15.

Park Hotels & Resorts Trading Up 0.1%

The firm has a 50-day simple moving average of $11.46 and a 200-day simple moving average of $11.12. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.85 billion, a PE ratio of -12.94, a P/E/G ratio of 1.92 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). The company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.78 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. Park Hotels & Resorts’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.74 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 Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Tuesday, June 30th. Park Hotels & Resorts’s payout ratio is -91.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. grew its position in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after acquiring an additional 1,813,338 shares in the last quarter. Bank of America Corp DE grew its position in Park Hotels & Resorts by 1.6% in the third quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock worth $144,865,000 after acquiring an additional 203,922 shares in the last quarter. AQR Capital Management LLC grew its position in Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares in the last quarter. Sculptor Capital LP grew its position in Park Hotels & Resorts by 154.1% in the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Park Hotels & Resorts by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,257,003 shares of the financial services provider’s stock worth $44,528,000 after acquiring an additional 273,410 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.