Park Hotels & Resorts Inc. $PK Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 112.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,561 shares of the financial services provider’s stock after acquiring an additional 13,507 shares during the period. Janney Montgomery Scott LLC’s holdings in Park Hotels & Resorts were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PK. GAMMA Investing LLC raised its position in shares of Park Hotels & Resorts by 401.2% during the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 4,229 shares in the last quarter. Quarry LP raised its position in shares of Park Hotels & Resorts by 186.6% during 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 in the last quarter. Spire Wealth Management raised its position 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 acquiring an additional 2,440 shares in the last quarter. Signaturefd LLC raised its position in shares of Park Hotels & Resorts by 29.9% during the 2nd quarter. Signaturefd LLC now owns 9,964 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $103,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on PK. UBS Group upped their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Morgan Stanley restated an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Cantor Fitzgerald assumed coverage on Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Park Hotels & Resorts in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $12.00.

Park Hotels & Resorts Trading Up 0.7%

NYSE:PK opened at $10.88 on Tuesday. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 40.31 and a beta of 1.83. The business has a fifty day moving average of $11.42 and a 200-day moving average of $10.73. 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 released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $672.00 million during the quarter, compared to analysts’ expectations of $672.37 million. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter 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. Equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. Park Hotels & Resorts’s dividend payout ratio is presently 370.37%.

Park Hotels & Resorts 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.