GAMMA Investing LLC Increases Stake in Park Hotels & Resorts Inc. $PK

GAMMA Investing LLC increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 71.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,072 shares of the financial services provider’s stock after purchasing an additional 3,789 shares during the quarter. GAMMA Investing LLC’s holdings in Park Hotels & Resorts were worth $93,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management boosted its stake in shares of Park Hotels & Resorts by 47.1% during the 1st quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider’s stock valued at $81,000 after buying an additional 2,440 shares during the last quarter. Strs Ohio purchased a new position in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $5,593,000. Parallel Advisors LLC boosted its stake in shares of Park Hotels & Resorts by 374.8% during the 2nd quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider’s stock valued at $305,000 after buying an additional 23,558 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $324,000. Finally, Voya Investment Management LLC boosted its stake in shares of Park Hotels & Resorts by 116.3% during the 1st quarter. Voya Investment Management LLC now owns 352,982 shares of the financial services provider’s stock valued at $3,770,000 after buying an additional 189,825 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PK. Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $12.00 in a report on Tuesday, September 9th. JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a report on Monday, June 23rd. They set an “underweight” rating and a $10.00 price target on the stock. Wall Street Zen lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, August 27th. Finally, Cantor Fitzgerald began coverage on Park Hotels & Resorts in a report on Wednesday. They set a “neutral” rating and a $12.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.18.

Park Hotels & Resorts Stock Up 0.7%

Shares of Park Hotels & Resorts stock opened at $11.11 on Friday. The business’s 50 day simple moving average is $11.35 and its 200 day simple moving average is $10.75. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.23. The firm has a market cap of $2.22 billion, a PE ratio of 41.13 and a beta of 1.83. 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 (NYSE:PK) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The firm had revenue of $672.00 million during the quarter, compared to the consensus estimate of $672.37 million. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.0%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 370.37%.

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.