Blue Zone Wealth Advisors LLC Sells 225,063 Shares of Park Hotels & Resorts Inc. $PK

Blue Zone Wealth Advisors LLC lessened its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 76.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 69,153 shares of the financial services provider’s stock after selling 225,063 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Park Hotels & Resorts were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PK. Danske Bank A S purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at about $25,000. Parvin Asset Management LLC bought a new position in shares of Park Hotels & Resorts in the second quarter worth about $26,000. Advisory Services Network LLC purchased a new stake in shares of Park Hotels & Resorts during the third quarter worth about $34,000. Clearstead Advisors LLC grew its position in shares of Park Hotels & Resorts by 326.4% during the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Transactions at Park Hotels & Resorts

In other news, Director Christie B. Kelly acquired 2,949 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was bought at an average cost of $11.19 per share, with a total value of $32,999.31. Following the completion of the purchase, the director directly owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PK has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. LADENBURG THALM/SH SH started coverage on shares of Park Hotels & Resorts in a research report on Thursday, March 26th. They set a “buy” rating and a $16.00 price objective on the stock. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a 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. Finally, Barclays assumed coverage on shares of Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 target price for the company. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.67.

Park Hotels & Resorts Trading Down 0.0%

PK opened at $10.40 on Monday. The stock has a 50-day moving average of $10.96 and a 200 day moving average of $10.91. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.25. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $12.39. The firm has a market cap of $2.09 billion, a P/E ratio of -7.27 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). The company had revenue of $629.00 million for the quarter, compared to analysts’ expectations of $621.79 million. Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.6%. Park Hotels & Resorts’s dividend payout ratio (DPR) 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.