SAM Advisors LLC Acquires Shares of 199,682 Park Hotels & Resorts Inc. $PK

SAM Advisors LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 199,682 shares of the financial services provider’s stock, valued at approximately $2,212,000. Park Hotels & Resorts comprises 0.7% of SAM Advisors LLC’s holdings, making the stock its 21st biggest position. SAM Advisors LLC owned approximately 0.10% of Park Hotels & Resorts as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Amundi grew its stake in shares of Park Hotels & Resorts by 1.9% during the 1st 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 during the period. Millennium Management LLC lifted its holdings in 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 valued at $5,595,000 after purchasing an additional 468,668 shares during the last quarter. United Services Automobile Association bought a new position in Park Hotels & Resorts during the first quarter worth about $152,000. Empowered Funds LLC boosted its position in 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 purchasing an additional 2,058 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Park Hotels & Resorts by 30.6% in the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 4,374 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other Park Hotels & Resorts news, Director Christie B. Kelly purchased 2,949 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the transaction, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. This represents a 2.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI cut their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Zacks Research lowered Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. UBS Group raised their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings downgraded shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. Finally, Barclays initiated coverage on shares of Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Reduce” and a consensus price target of $11.27.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $11.56 on Friday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -165.14 and a beta of 1.44. The business has a 50 day moving average of $10.81 and a 200 day moving average of $11.01. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $13.90.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The company’s revenue 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. On average, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

About Park Hotels & Resorts

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.