CastleKnight Management LP Decreases Position in Park Hotels & Resorts Inc. $PK

CastleKnight Management LP cut its position in Park Hotels & Resorts Inc. (NYSE:PK) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 870,022 shares of the financial services provider’s stock after selling 49,978 shares during the period. CastleKnight Management LP owned approximately 0.44% of Park Hotels & Resorts worth $9,100,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PK. Sculptor Capital LP raised its holdings in Park Hotels & Resorts by 154.1% in the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC raised its holdings in Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Bank of America Corp DE raised its holdings in Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock worth $131,666,000 after buying an additional 3,309,275 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Park Hotels & Resorts in the third quarter worth about $20,905,000. Finally, Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after buying an additional 1,813,338 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $14.46 on Thursday. The company has a 50 day moving average price of $12.00 and a 200-day moving average price of $11.31. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $14.95. The firm has a market capitalization of $2.91 billion, a PE ratio of -13.26, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The company had revenue of $622.00 million during the quarter, compared to the consensus estimate of $609.78 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.9%. The ex-dividend date is Tuesday, June 30th. Park Hotels & Resorts’s payout ratio is -91.74%.

Wall Street Analysts Forecast Growth

PK has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 price target on shares of Park Hotels & Resorts in a research note on Friday, June 12th. LADENBURG THALM/SH SH lifted their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Finally, Truist Financial lifted their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Reduce” and an average price target of $12.68.

Park Hotels & Resorts Company 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.