Aberdeen Group plc Acquires 48,489 Shares of Park Hotels & Resorts Inc. $PK

Aberdeen Group plc lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 24.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,231 shares of the financial services provider’s stock after acquiring an additional 48,489 shares during the period. Aberdeen Group plc owned approximately 0.12% of Park Hotels & Resorts worth $2,544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PK. Amundi increased its position in shares of Park Hotels & Resorts by 1.9% during the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 2,179 shares in the last quarter. Millennium Management LLC increased its position in shares of Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after acquiring an additional 468,668 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Park Hotels & Resorts during the first quarter worth about $152,000. Empowered Funds LLC increased its position in shares of Park Hotels & Resorts by 10.1% during the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth increased its position in shares of Park Hotels & Resorts by 30.6% during the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 4,374 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Park Hotels & Resorts

In related news, Director Christie B. Kelly bought 2,949 shares of Park Hotels & Resorts stock in a transaction dated Wednesday, January 14th. The stock was purchased at an average cost of $11.19 per share, with a total value 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. The trade was a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on PK. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research report on Friday, January 16th. Cantor Fitzgerald upped their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Weiss Ratings downgraded shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Finally, Zacks Research raised shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $11.45.

Park Hotels & Resorts Trading Up 2.9%

Shares of PK stock opened at $11.19 on Friday. Park Hotels & Resorts Inc. has a 52-week low of $8.91 and a 52-week high of $12.39. 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 50-day simple moving average of $10.94 and a two-hundred day simple moving average of $10.89. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -7.83 and a beta of 1.39.

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

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently -69.93%.

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.