Shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) traded down 3.9% on Thursday . The company traded as low as $13.17 and last traded at $13.17. 36,577 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 3,654,398 shares. The stock had previously closed at $13.71.
A number of research analysts have weighed in on the company. Truist Financial upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $22.00 in a research note on Wednesday, June 1st. Jefferies Financial Group cut Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $19.00 in a research report on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Park Hotels & Resorts from $26.00 to $28.00 in a research report on Tuesday, May 3rd. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.83.
The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -9.85 and a beta of 1.89. The company has a fifty day moving average of $17.88 and a two-hundred day moving average of $18.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.02 and a current ratio of 3.02.
Park Hotels & Resorts (NYSE:PK – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.25). The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. The business’s revenue for the quarter was up 190.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.48) earnings per share. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.48 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.04 annualized dividend and a yield of 0.28%. Park Hotels & Resorts’s payout ratio is currently -2.92%.
In other news, Director Thomas D. Eckert purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The stock was acquired at an average cost of $15.12 per share, with a total value of $151,200.00. Following the acquisition, the director now owns 96,637 shares in the company, valued at approximately $1,461,151.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.09% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PK. Janus Henderson Group PLC increased its stake in Park Hotels & Resorts by 2,450.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,967,361 shares of the financial services provider’s stock worth $56,753,000 after acquiring an additional 2,851,024 shares during the period. DigitalBridge Group Inc. increased its stake in shares of Park Hotels & Resorts by 305.1% in the 1st quarter. DigitalBridge Group Inc. now owns 2,509,570 shares of the financial services provider’s stock valued at $5,947,000 after purchasing an additional 1,890,070 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Park Hotels & Resorts by 87.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,698,915 shares of the financial services provider’s stock valued at $72,239,000 after purchasing an additional 1,729,984 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Park Hotels & Resorts by 45.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,416,035 shares of the financial services provider’s stock valued at $102,254,000 after purchasing an additional 1,680,145 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC bought a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $31,634,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.
About Park Hotels & Resorts (NYSE:PK)
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
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