65,544 Shares in Park Hotels & Resorts Inc. $PK Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the third quarter, according to its most recent filing with the SEC. The firm acquired 65,544 shares of the financial services provider’s stock, valued at approximately $726,000.

Other institutional investors also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth $26,000. Bessemer Group Inc. raised its holdings 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 worth $32,000 after purchasing an additional 2,411 shares in the last quarter. Allworth Financial LP raised its holdings in Park Hotels & Resorts by 322.4% during the second quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 2,992 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Park Hotels & Resorts by 1,288.9% in the third quarter. Parkside Financial Bank & Trust now owns 8,722 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 8,094 shares during the period. Finally, Samalin Investment Counsel LLC purchased a new stake in Park Hotels & Resorts in the 3rd quarter valued at approximately $118,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Up 2.7%

PK opened at $11.45 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -8.01 and a beta of 1.40. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $12.43. The business’s fifty day moving average is $11.19 and its two-hundred day moving average is $11.10.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($1.50). Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The firm had revenue of $629.00 million during the quarter, compared to analysts’ expectations of $621.79 million. During the same quarter in the prior year, the business earned $0.39 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio is -69.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PK. Morgan Stanley set a $10.00 target price on Park Hotels & Resorts in a research note on Friday, January 16th. Evercore dropped their price objective on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, November 20th. Barclays started coverage on Park Hotels & Resorts in a report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 target price for the company. Truist Financial decreased their target price on shares of Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $11.27.

Insider Activity at Park Hotels & Resorts

In related news, Director Christie B. Kelly acquired 2,949 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was purchased at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the transaction, the director directly owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by corporate insiders.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.