Sculptor Capital LP Sells 3,284,153 Shares of Park Hotels & Resorts Inc. $PK

Sculptor Capital LP lowered its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 50.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,250,000 shares of the financial services provider’s stock after selling 3,284,153 shares during the period. Sculptor Capital LP’s holdings in Park Hotels & Resorts were worth $34,222,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Amundi boosted its stake in Park Hotels & Resorts by 1.9% in the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC raised its position in shares of Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after buying an additional 468,668 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Park Hotels & Resorts during the first quarter valued at approximately $152,000. Empowered Funds LLC lifted its holdings in shares of Park Hotels & Resorts by 10.1% in the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after buying an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Park Hotels & Resorts by 30.6% in the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after buying an additional 4,374 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 0.1%

NYSE PK opened at $14.76 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $15.16. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 1.95 and a beta of 1.33. The company has a fifty day moving average of $13.81 and a two-hundred day moving average of $12.03.

Park Hotels & Resorts (NYSE:PK) last announced its 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 firm had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, analysts predict that Park Hotels & Resorts Inc. will post 1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

PK has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a research note on Thursday. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Barclays increased their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $13.18.

Park Hotels & Resorts Company Profile

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.