Park Hotels & Resorts Inc (PK) Sees Large Increase in Short Interest

Park Hotels & Resorts Inc (NYSE:PK) was the target of a large growth in short interest in December. As of December 29th, there was short interest totalling 8,015,996 shares, a growth of 44.5% from the December 15th total of 5,548,572 shares. Based on an average daily trading volume, of 1,397,075 shares, the short-interest ratio is presently 5.7 days. Currently, 3.8% of the company’s stock are sold short.

Shares of Park Hotels & Resorts (NYSE:PK) opened at $29.18 on Friday. Park Hotels & Resorts has a 12-month low of $24.65 and a 12-month high of $29.90. The company has a market capitalization of $6,270.00 and a PE ratio of 2.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.26.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $676.76 million. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. equities analysts anticipate that Park Hotels & Resorts will post 2.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a dividend of $0.55 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $2.20 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date was Thursday, December 28th. Park Hotels & Resorts’s payout ratio is currently 18.32%.

A number of institutional investors and hedge funds have recently modified their holdings of PK. Pacer Advisors Inc. increased its holdings in Park Hotels & Resorts by 53.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,080 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $179,000. QS Investors LLC increased its holdings in Park Hotels & Resorts by 0.3% during the 2nd quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 22 shares in the last quarter. Hollencrest Capital Management bought a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $207,000. Finally, Parallel Advisors LLC increased its holdings in Park Hotels & Resorts by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,273 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 2,484 shares in the last quarter. 99.13% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on PK. Zacks Investment Research lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. SunTrust Banks raised Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Nomura boosted their target price on Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Finally, Boenning Scattergood set a $29.00 target price on Park Hotels & Resorts and gave the company a “buy” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $36.08.

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About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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