Elo Mutual Pension Insurance Co Acquires 8,424 Shares of Park Hotels & Resorts Inc. $PK

Elo Mutual Pension Insurance Co boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,126 shares of the financial services provider’s stock after purchasing an additional 8,424 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Park Hotels & Resorts were worth $298,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Bessemer Group Inc. raised its stake in shares of Park Hotels & Resorts by 359.3% during the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,411 shares during the period. IFP Advisors Inc increased its holdings in 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 last quarter. Allworth Financial LP raised its position in Park Hotels & Resorts by 322.4% in the second 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 during the period. Quarry LP boosted its stake in Park Hotels & Resorts by 186.6% in the first 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 boosted its stake in Park Hotels & Resorts by 71.7% in the second quarter. GAMMA Investing LLC now owns 9,072 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 3,789 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $10.82 on Friday. The firm has a market capitalization of $2.16 billion, a P/E ratio of -154.57 and a beta of 1.84. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The business has a fifty day moving average price of $10.81 and a 200-day moving average price of $10.88.

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 analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is -1,428.57%.

Wall Street Analysts Forecast Growth

PK has been the subject of several research analyst reports. UBS Group raised their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Evercore ISI decreased their target price on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, November 20th. Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. Cantor Fitzgerald initiated coverage on Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Tuesday. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $11.10.

About Park Hotels & Resorts

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.