Fisher Asset Management LLC Has $10.53 Million Stock Position in Park Hotels & Resorts Inc. $PK

Fisher Asset Management LLC trimmed its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 32.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,029,400 shares of the financial services provider’s stock after selling 484,233 shares during the quarter. Fisher Asset Management LLC owned 0.51% of Park Hotels & Resorts worth $10,531,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in 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 acquiring an additional 1,239 shares in the last quarter. Vident Advisory LLC increased its holdings in Park Hotels & Resorts by 11.2% during the 1st quarter. Vident Advisory LLC now owns 13,153 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 1,325 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Park Hotels & Resorts by 7.4% in the first quarter. EntryPoint Capital LLC now owns 19,889 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 1,367 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Park Hotels & Resorts by 10.7% in the first quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 1,455 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Park Hotels & Resorts by 10.1% in the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 2,058 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PK. Evercore ISI lowered their price target 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 reduced their target price on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday. Cantor Fitzgerald started coverage on shares of Park Hotels & Resorts in a research report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price target on the stock. Citigroup cut shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. Finally, UBS Group increased their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. One equities 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 data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $11.00.

Park Hotels & Resorts Price Performance

PK opened at $10.68 on Thursday. The firm has a 50-day moving average price of $10.75 and a 200-day moving average price of $10.87. 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 company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -152.50 and a beta of 1.45.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The company had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. During the same quarter last year, the firm posted $0.49 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Park Hotels & Resorts Company 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.