Park Hotels & Resorts Inc. $PK Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC cut its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,525 shares of the financial services provider’s stock after selling 3,700 shares during the period. Cardinal Point Capital Management ULC’s holdings in Park Hotels & Resorts were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Park Hotels & Resorts by 469.0% during the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,856 shares during the period. GAMMA Investing LLC boosted its position in shares of Park Hotels & Resorts by 401.2% during the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock worth $56,000 after buying an additional 4,229 shares during the period. Quarry LP boosted its position in shares of Park Hotels & Resorts by 186.6% during the first quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock worth $77,000 after buying an additional 4,668 shares during the period. Spire Wealth Management boosted its position in shares of Park Hotels & Resorts by 47.1% during the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider’s stock worth $81,000 after buying an additional 2,440 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Park Hotels & Resorts by 29.9% during the second quarter. Signaturefd LLC now owns 9,964 shares of the financial services provider’s stock worth $102,000 after buying an additional 2,296 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $11.07 on Friday. The stock has a fifty day moving average of $11.43 and a 200-day moving average of $10.77. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a market capitalization of $2.21 billion, a PE ratio of 41.01 and a beta of 1.83.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. During the same period in the previous year, the business earned $0.65 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PK shares. UBS Group boosted their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Morgan Stanley restated an “outperform” rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of Park Hotels & Resorts in a research report on Wednesday, October 8th. Citigroup downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Finally, Cantor Fitzgerald assumed coverage on Park Hotels & Resorts in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 target price for the company. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $12.00.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.