Christie Kelly Purchases 2,949 Shares of Park Hotels & Resorts (NYSE:PK) Stock

Park Hotels & Resorts Inc. (NYSE:PK) Director Christie Kelly purchased 2,949 shares of Park Hotels & Resorts stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average price of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director directly owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This trade represents a 2.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock traded down $0.06 during trading hours on Friday, hitting $11.43. The company had a trading volume of 3,279,399 shares, compared to its average volume of 4,372,113. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $2.28 billion, a PE ratio of -163.29 and a beta of 1.44. The firm has a 50-day moving average of $10.73 and a 200 day moving average of $10.98. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $13.90.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The company had revenue of $610.00 million for the quarter, compared to the consensus estimate of $617.05 million. During the same quarter last year, the business earned $0.49 EPS. Park Hotels & Resorts’s revenue was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is -1,428.57%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Amundi boosted its holdings in Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 2,179 shares in the last quarter. Millennium Management LLC increased its stake in Park Hotels & Resorts by 849.3% during the 1st 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 in the last quarter. United Services Automobile Association purchased a new position in Park Hotels & Resorts in the 1st quarter worth approximately $152,000. Empowered Funds LLC lifted its holdings 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 valued at $239,000 after purchasing an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 4,374 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PK. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, December 1st. UBS Group raised their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Evercore ISI cut their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, November 20th. Weiss Ratings lowered shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research report on Friday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Reduce” and a consensus price target of $11.27.

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.