Intech Investment Management LLC Boosts Holdings in Park Hotels & Resorts Inc. $PK

Intech Investment Management LLC raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 49.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 162,124 shares of the financial services provider’s stock after buying an additional 53,774 shares during the period. Intech Investment Management LLC owned about 0.08% of Park Hotels & Resorts worth $1,796,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Parvin Asset Management LLC purchased a new position in Park Hotels & Resorts during the second quarter valued at approximately $26,000. Bessemer Group Inc. grew its stake in shares of Park Hotels & Resorts by 359.3% during the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,411 shares during the period. Clearstead Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 326.4% during the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 2,448 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Park Hotels & Resorts by 322.4% during the 2nd quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 2,992 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Park Hotels & Resorts by 1,288.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 8,722 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 8,094 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 2.7%

Shares of Park Hotels & Resorts stock opened at $11.45 on Thursday. 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 stock’s 50 day simple moving average is $11.19 and its 200-day simple moving average is $11.10. The stock has a market cap of $2.29 billion, a P/E ratio of -8.01 and a beta of 1.40. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $12.43.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($1.50). The firm had revenue of $629.00 million for 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 revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.7%. Park Hotels & Resorts’s payout ratio is presently -69.93%.

Wall Street Analyst Weigh In

Several analysts recently commented on PK shares. Wall Street Zen upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday. Barclays began coverage on shares of Park Hotels & Resorts in a research note on Tuesday, January 6th. They set an “overweight” rating and a $13.00 target price on the stock. Truist Financial cut their price target on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings cut Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Finally, Morgan Stanley set a $10.00 price target on Park Hotels & Resorts in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Reduce” and an average target price of $11.27.

Insider Activity

In other news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average cost of $11.19 per share, for a total transaction 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. The trade was a 2.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.