Park Hotels & Resorts Inc. $PK Stake Lessened by EMC Capital Management

EMC Capital Management reduced its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 58.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,405 shares of the financial services provider’s stock after selling 11,663 shares during the quarter. EMC Capital Management’s holdings in Park Hotels & Resorts were worth $86,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its holdings in Park Hotels & Resorts by 359.3% in the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after buying an additional 2,411 shares during the last quarter. IFP Advisors Inc grew its position in shares of Park Hotels & Resorts by 469.0% in the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 2,856 shares in the last quarter. Allworth Financial LP grew its position in shares of Park Hotels & Resorts by 322.4% in the 2nd quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 2,992 shares in the last quarter. Quarry LP increased its holdings in shares of Park Hotels & Resorts by 186.6% in the 1st quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 4,668 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Park Hotels & Resorts by 71.7% during the second quarter. GAMMA Investing LLC now owns 9,072 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 3,789 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PK. UBS Group boosted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Cantor Fitzgerald began coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price objective on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Thursday, November 13th. Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $12.00 in a report on Tuesday, September 9th. Finally, Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $11.20.

Park Hotels & Resorts Price Performance

NYSE PK opened at $10.04 on Thursday. The company has a 50-day moving average price of $11.01 and a two-hundred day moving average price of $10.87. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -143.36 and a beta of 1.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The business had revenue of $610.00 million for the quarter, compared to analyst estimates of $617.05 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is currently -1,428.57%.

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.