AlphaQuest LLC Has $959,000 Holdings in Park Hotels & Resorts Inc. $PK

Key Points

• AlphaQuest LLC significantly increased its holdings in Park Hotels & Resorts Inc. by 173.2% during Q2, now owning 93,774 shares valued at $959,000.
• Multiple institutional investors have also raised their stakes in Park Hotels & Resorts, contributing to a total of 92.69% ownership by hedge funds and institutional investors.
• For the last quarter, Park Hotels reported an EPS of $0.64, exceeding the analyst consensus of $0.57 although revenue fell 2% year-over-year.

AlphaQuest LLC boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 173.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,774 shares of the financial services provider's stock after purchasing an additional 59,452 shares during the quarter. AlphaQuest LLC's holdings in Park Hotels & Resorts were worth $959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PK. IFP Advisors Inc raised its stake in Park Hotels & Resorts by 469.0% in the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 2,856 shares in the last quarter. GAMMA Investing LLC raised its stake in Park Hotels & Resorts by 401.2% during the first 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 in the last quarter. Quarry LP raised its stake in Park Hotels & Resorts by 186.6% during the first quarter. Quarry LP now owns 7,170 shares of the financial services provider's stock worth $77,000 after acquiring an additional 4,668 shares in the last quarter. Spire Wealth Management raised its stake in Park Hotels & Resorts by 47.1% during the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock worth $81,000 after acquiring an additional 2,440 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Park Hotels & Resorts by 29.9% during the second quarter. Signaturefd LLC now owns 9,964 shares of the financial services provider's stock worth $102,000 after acquiring an additional 2,296 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $11.07 on Friday. The business's 50 day simple moving average is $11.43 and its 200 day simple moving average is $10.78. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The stock has a market capitalization of $2.21 billion, a PE ratio of 41.01 and a beta of 1.83. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $672.00 million for the quarter, compared to analysts' expectations of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PK shares. Wells Fargo & Company raised Park Hotels & Resorts to a "hold" rating in a research note on Friday, October 3rd. Cantor Fitzgerald assumed coverage on Park Hotels & Resorts in a report on Wednesday, October 1st. They set a "neutral" rating and a $12.00 price target on the stock. UBS Group boosted their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Finally, Citigroup cut Park Hotels & Resorts from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus target price of $12.00.

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.

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