Aristeia Capital L.L.C. Invests $292,000 in Park Hotels & Resorts Inc. $PK

Key Points

• Aristeia Capital L.L.C. has made a new investment in Park Hotels & Resorts, acquiring 27,316 shares valued at approximately $292,000 during the first quarter.
• Several hedge funds have increased their stakes significantly in Park Hotels & Resorts, with UMB Bank n.a. raising its stake by 140.9% and Versant Capital Management Inc. by 11,039.1% in the same quarter.
• The company's recent earnings report showed an EPS of $0.64, exceeding estimates, while a quarterly dividend of $0.25 was announced for payment on October 15th.

Aristeia Capital L.L.C. bought a new position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,316 shares of the financial services provider's stock, valued at approximately $292,000.

Several other large investors have also added to or reduced their stakes in PK. UMB Bank n.a. boosted its stake in 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 period. Versant Capital Management Inc boosted its stake in Park Hotels & Resorts by 11,039.1% in the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after purchasing an additional 2,539 shares during the period. GF Fund Management CO. LTD. bought a new position in Park Hotels & Resorts in the 4th quarter worth about $53,000. GAMMA Investing LLC boosted its stake in Park Hotels & Resorts by 401.2% in the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock worth $56,000 after purchasing an additional 4,229 shares during the period. Finally, Quarry LP boosted its stake in Park Hotels & Resorts by 186.6% in the 1st quarter. Quarry LP now owns 7,170 shares of the financial services provider's stock worth $77,000 after purchasing an additional 4,668 shares during the period. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

NYSE:PK traded down $0.05 during mid-day trading on Friday, reaching $11.96. The stock had a trading volume of 2,887,553 shares, compared to its average volume of 3,097,609. The firm has a 50 day moving average price of $11.17 and a two-hundred day moving average price of $10.77. The stock has a market capitalization of $2.39 billion, a P/E ratio of 44.28 and a beta of 1.80. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. 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 (NYSE:PK - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The company had revenue of $672.00 million during the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.Park Hotels & Resorts's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Park Hotels & Resorts's payout ratio is 370.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PK. JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a research report on Monday, June 23rd. They set an "underweight" rating and a $10.00 price target for the company. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Wells Fargo & Company lifted their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Truist Financial downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the company from $16.00 to $11.00 in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average price target of $12.20.

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.