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

Several other hedge funds have also bought and sold shares of PK. Schonfeld Strategic Advisors LLC purchased a new stake in Park Hotels & Resorts in the 4th quarter worth approximately $267,000. Deutsche Bank AG boosted its position in Park Hotels & Resorts by 809.3% in the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock worth $33,988,000 after purchasing an additional 2,149,972 shares in the last quarter. Ethic Inc. purchased a new stake in Park Hotels & Resorts in the 4th quarter worth approximately $170,000. Lighthouse Investment Partners LLC purchased a new stake in Park Hotels & Resorts in the 4th quarter worth approximately $940,000. Finally, Nuveen Asset Management LLC boosted its position in Park Hotels & Resorts by 17.9% in the 4th quarter. Nuveen Asset Management LLC now owns 758,848 shares of the financial services provider's stock worth $10,677,000 after purchasing an additional 114,989 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded down $0.05 during midday trading on Friday, reaching $11.96. 2,887,553 shares of the company's stock traded hands, compared to its average volume of 3,086,137. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. The company has a market cap of $2.39 billion, a P/E ratio of 44.28 and a beta of 1.80. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. The company has a fifty day simple moving average of $11.17 and a two-hundred day simple moving average of $10.75.

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

Park Hotels & Resorts Announces Dividend

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

Analyst Upgrades and Downgrades

PK has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. Citigroup lowered Park Hotels & Resorts from a "buy" rating to a "neutral" rating and decreased their target price for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their target price for the company from $16.00 to $11.00 in a research report on Friday, May 30th. JPMorgan Chase & Co. started coverage on Park Hotels & Resorts in a research report on Monday, June 23rd. They set an "underweight" rating and a $10.00 target price on the stock. Finally, Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.