Christie Kelly Buys 2,949 Shares of Park Hotels & Resorts (NYSE:PK) Stock

Park Hotels & Resorts Inc. (NYSE:PK) Director Christie Kelly bought 2,949 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average cost of $11.19 per share, with a total value of $32,999.31. Following the completion of the purchase, the director owned 150,501 shares in the company, valued at $1,684,106.19. This represents a 2.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Park Hotels & Resorts Stock Down 0.5%

Shares of PK stock traded down $0.06 on Friday, hitting $11.43. 3,279,399 shares of the stock were exchanged, compared to its average volume of 4,372,113. The firm has a market capitalization of $2.28 billion, a P/E ratio of -163.29 and a beta of 1.44. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $13.90. The business has a 50-day moving average of $10.73 and a 200 day moving average of $10.98. 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 announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $610.00 million for the quarter, compared to the consensus estimate of $617.05 million. During the same quarter in the prior year, the company earned $0.49 EPS. The company’s revenue for the quarter 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. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.7%. Park Hotels & Resorts’s payout ratio is -1,428.57%.

Analysts Set New Price Targets

Several research analysts have issued reports on PK shares. Zacks Research lowered shares of Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday. Weiss Ratings lowered shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Cantor Fitzgerald started 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 target on the stock. Truist Financial upped their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, December 4th. Finally, Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, December 1st. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $11.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PK. Capital Fund Management S.A. increased its holdings in shares of Park Hotels & Resorts by 39.1% in the second quarter. Capital Fund Management S.A. now owns 370,803 shares of the financial services provider’s stock valued at $3,793,000 after purchasing an additional 104,307 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 374.8% in the second quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 23,558 shares in the last quarter. Squarepoint Ops LLC increased its stake in Park Hotels & Resorts by 370.3% during the 2nd quarter. Squarepoint Ops LLC now owns 432,535 shares of the financial services provider’s stock worth $4,425,000 after purchasing an additional 340,568 shares in the last quarter. Ethic Inc. boosted its stake in Park Hotels & Resorts by 179.5% in the 2nd quarter. Ethic Inc. now owns 38,789 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 24,911 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Park Hotels & Resorts during the second quarter worth about $113,000. Institutional investors own 92.69% of the company’s stock.

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.