AlphaQuest LLC Raises Position in Park Hotels & Resorts Inc. $PK

Key Points

• AlphaQuest LLC significantly increased its stake in Park Hotels & Resorts by 913.9%, now holding a total of 34,322 shares valued at approximately $367,000.
• The company reported earnings per share (EPS) of $0.64 for the last quarter, exceeding estimates, despite revenue declining 2% year-over-year.
• Park Hotels & Resorts announced a quarterly dividend of $0.25 per share, representing an annual yield of 8.4%, although the dividend payout ratio is notably high at 370.37%.

AlphaQuest LLC lifted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 913.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,322 shares of the financial services provider's stock after purchasing an additional 30,937 shares during the period. AlphaQuest LLC's holdings in Park Hotels & Resorts were worth $367,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of Park Hotels & Resorts by 140.9% in the first quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,395 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 2,539 shares during the period. Quarry LP purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $53,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Park Hotels & Resorts by 401.2% in the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 4,229 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 0.3%

Shares of PK traded up $0.03 during midday trading on Friday, hitting $11.79. 2,540,287 shares of the company's stock traded hands, compared to its average volume of 3,899,517. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. The firm's fifty day moving average is $10.90 and its 200-day moving average is $10.82. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 43.67 and a beta of 1.80.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The firm had revenue of $672.00 million during the quarter, compared to analyst estimates of $672.37 million. During the same quarter in the prior year, the business posted $0.65 EPS. The business's revenue for the quarter 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. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.5%. The ex-dividend date is Tuesday, September 30th. Park Hotels & Resorts's dividend payout ratio is currently 370.37%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PK. Wells Fargo & Company boosted their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price for the company. in a report on Friday, May 16th. JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a report on Monday, June 23rd. They set an "underweight" rating and a $10.00 target price for the company. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Finally, Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $12.22.

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.