Capital Fund Management S.A. Acquires 104,307 Shares of Park Hotels & Resorts Inc. $PK

Capital Fund Management S.A. grew its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 39.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 370,803 shares of the financial services provider’s stock after purchasing an additional 104,307 shares during the period. Capital Fund Management S.A.’s holdings in Park Hotels & Resorts were worth $3,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PK. Cetera Investment Advisers boosted its stake in Park Hotels & Resorts by 10.7% in the 1st quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,455 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Park Hotels & Resorts by 34.5% in the 1st quarter. LPL Financial LLC now owns 508,004 shares of the financial services provider’s stock valued at $5,425,000 after purchasing an additional 130,399 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Park Hotels & Resorts by 10.6% in the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,239 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Park Hotels & Resorts in the 1st quarter worth about $682,000. Finally, CM Management LLC increased its position in shares of Park Hotels & Resorts by 33.3% during the 1st quarter. CM Management LLC now owns 200,000 shares of the financial services provider’s stock worth $2,136,000 after purchasing an additional 50,000 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PK has been the topic of a number of recent analyst reports. Evercore ISI reduced their price target on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. Citigroup downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. UBS Group raised their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Park Hotels & Resorts in a research note on Monday. Finally, Cantor Fitzgerald started coverage on Park Hotels & Resorts in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 target price for the company. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $11.00.

Park Hotels & Resorts Trading Down 0.4%

PK stock opened at $10.58 on Wednesday. The company has a market cap of $2.11 billion, a P/E ratio of -151.07 and a beta of 1.45. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average of $10.76 and a 200-day moving average of $10.87.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results 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). The firm had revenue of $610.00 million during the quarter, compared to the consensus estimate of $617.05 million. Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. Park Hotels & Resorts’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, equities research analysts expect 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 will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.5%. Park Hotels & Resorts’s payout ratio is currently -1,428.57%.

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.