XTX Topco Ltd Takes Position in Park Hotels & Resorts Inc. $PK

XTX Topco Ltd bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 69,873 shares of the financial services provider’s stock, valued at approximately $715,000.

Several other hedge funds have also recently bought and sold shares of PK. Sculptor Capital LP acquired a new position in shares of Park Hotels & Resorts in the first quarter valued at approximately $27,467,000. Donald Smith & CO. Inc. raised its holdings in shares of Park Hotels & Resorts by 25.8% during the first quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider’s stock worth $123,646,000 after acquiring an additional 2,377,195 shares during the period. AQR Capital Management LLC lifted its position in Park Hotels & Resorts by 89.8% in the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider’s stock valued at $46,378,000 after acquiring an additional 2,073,721 shares in the last quarter. Nuveen LLC acquired a new position in Park Hotels & Resorts in the 1st quarter worth $7,871,000. Finally, Citigroup Inc. boosted its stake in Park Hotels & Resorts by 275.5% in the 1st quarter. Citigroup Inc. now owns 919,805 shares of the financial services provider’s stock worth $9,824,000 after purchasing an additional 674,851 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI dropped their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, November 20th. UBS Group increased their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Park Hotels & Resorts in a research report on Monday. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Citigroup cut shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $13.00 to $12.00 in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Reduce” and an average target price of $11.00.

Park Hotels & Resorts Stock Performance

PK opened at $10.58 on Wednesday. The business’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $10.87. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $2.11 billion, a PE ratio of -151.07 and a beta of 1.45.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $617.05 million. During the same period last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is presently -1,428.57%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.