Private Management Group Inc. Acquires 186,713 Shares of Park Hotels & Resorts Inc. $PK

Private Management Group Inc. raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 6.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,185,571 shares of the financial services provider’s stock after buying an additional 186,713 shares during the quarter. Park Hotels & Resorts accounts for about 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 25th largest position. Private Management Group Inc. owned about 1.59% of Park Hotels & Resorts worth $35,296,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PK. Parvin Asset Management LLC bought a new stake in shares of Park Hotels & Resorts in the second quarter valued at approximately $26,000. Clearstead Advisors LLC grew its stake in shares of Park Hotels & Resorts by 326.4% in the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 2,448 shares during the last quarter. Allworth Financial LP increased its position 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 acquiring an additional 2,992 shares during the period. Parkside Financial Bank & Trust increased its position in Park Hotels & Resorts by 1,288.9% during the third quarter. Parkside Financial Bank & Trust now owns 8,722 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 8,094 shares during the period. Finally, Journey Strategic Wealth LLC acquired a new position in Park Hotels & Resorts during the 3rd quarter valued at $114,000. 92.69% of the stock is owned by institutional investors.

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 purchased at an average price of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the purchase, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Park Hotels & Resorts Stock Down 1.7%

PK opened at $10.20 on Friday. The company has a market capitalization of $2.04 billion, a P/E ratio of -7.13 and a beta of 1.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average price is $11.19 and its two-hundred day moving average price is $11.07. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $12.39.

Park Hotels & Resorts (NYSE:PK) last announced 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 business had revenue of $629.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio is -69.93%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PK. Weiss Ratings downgraded shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Wall Street Zen upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Wells Fargo & Company reduced their target price on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, December 1st. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Barclays assumed coverage on Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price target on the stock. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Reduce” and a consensus target price of $11.27.

Park Hotels & Resorts 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.