Algert Global LLC Has $3.34 Million Stock Holdings in Park Hotels & Resorts Inc. $PK

Key Points

• Algert Global LLC has reduced its stake in Park Hotels & Resorts Inc. by 50.9%, selling over 324,000 shares, now owning around 0.16% valued at $3.34 million.
• Park Hotels & Resorts posted earnings of $0.64 per share, exceeding estimates, but revenue saw a 2% decline year-over-year.
• The company announced a quarterly dividend of $0.25 per share, yielding 9.0%, with a high dividend payout ratio of 370.37%.

Algert Global LLC decreased its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 50.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 312,942 shares of the financial services provider's stock after selling 324,090 shares during the quarter. Algert Global LLC owned 0.16% of Park Hotels & Resorts worth $3,342,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Quarry LP bought a new stake in Park Hotels & Resorts during the 4th quarter worth about $35,000. Versant Capital Management Inc grew its holdings in Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after acquiring an additional 2,539 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Park Hotels & Resorts during the 4th quarter worth about $53,000. Finally, GAMMA Investing LLC grew its holdings in Park Hotels & Resorts by 401.2% during the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock worth $56,000 after acquiring an additional 4,229 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Citigroup reissued a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a report on Wednesday, April 30th. Wall Street Zen lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective on the stock. in a report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average price target of $12.11.

Park Hotels & Resorts Trading Down 1.4%

Park Hotels & Resorts stock traded down $0.16 during trading hours on Monday, reaching $11.68. 2,566,533 shares of the company's stock traded hands, compared to its average volume of 3,916,793. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 43.26 and a beta of 1.80. The firm's 50 day moving average is $10.78 and its 200-day moving average is $10.84.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. During the same period in the prior year, the company posted $0.65 EPS. The company's revenue was down 2.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, analysts predict that Park Hotels & Resorts Inc. will post 2.11 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, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.6%. Park Hotels & Resorts's dividend payout ratio is presently 370.37%.

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.