Donald Smith & CO. Inc. Increases Stock Holdings in Park Hotels & Resorts Inc. $PK

Donald Smith & CO. Inc. raised its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,044,177 shares of the financial services provider’s stock after purchasing an additional 466,857 shares during the quarter. Park Hotels & Resorts accounts for approximately 2.9% of Donald Smith & CO. Inc.’s holdings, making the stock its 14th biggest position. Donald Smith & CO. Inc. owned about 6.02% of Park Hotels & Resorts worth $123,212,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Park Hotels & Resorts by 359.3% during the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after buying an additional 2,411 shares during the period. IFP Advisors Inc raised its position in Park Hotels & Resorts by 469.0% in the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 2,856 shares during the period. Allworth Financial LP boosted its stake in shares of Park Hotels & Resorts by 322.4% during the 2nd 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 last quarter. Quarry LP grew 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of Park Hotels & Resorts by 71.7% during the 2nd 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 period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PK. 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 report on Monday, December 1st. Evercore ISI decreased their price objective 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. Truist Financial lifted their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group upped their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $11.10.

Park Hotels & Resorts Trading Up 0.5%

Shares of PK stock opened at $10.53 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -150.49 and a beta of 1.45. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $15.88. The stock’s 50-day moving average price is $10.71 and its 200-day moving average price is $10.87.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 9.5%. Park Hotels & Resorts’s dividend payout ratio is -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.