Caxton Associates LLP Takes $324,000 Position in Park Hotels & Resorts Inc. $PK

Key Points

• Caxton Associates LLP has acquired 30,345 shares of Park Hotels & Resorts Inc. valued at approximately $324,000 in the first quarter.
• Park Hotels & Resorts reported earnings per share of $0.64, exceeding analysts' expectations, while also facing a 2% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.25 per share, yielding an annualized rate of 8.4%, despite a high payout ratio of 370.37%.

Caxton Associates LLP bought a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,345 shares of the financial services provider's stock, valued at approximately $324,000.

Several other hedge funds also recently modified their holdings of the stock. IFM Investors Pty Ltd boosted its position in shares of Park Hotels & Resorts by 2.2% during the first quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider's stock valued at $515,000 after buying an additional 1,043 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Park Hotels & Resorts by 3.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,929 shares of the financial services provider's stock valued at $491,000 after buying an additional 1,139 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Park Hotels & Resorts by 6.3% during the fourth quarter. Tidal Investments LLC now owns 20,754 shares of the financial services provider's stock valued at $292,000 after buying an additional 1,232 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Park Hotels & Resorts by 10.6% during the first quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider's stock valued at $138,000 after buying an additional 1,239 shares during the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Park Hotels & Resorts by 11.2% during the first quarter. Vident Advisory LLC now owns 13,153 shares of the financial services provider's stock valued at $140,000 after buying an additional 1,325 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

PK has been the topic of several analyst reports. Wall Street Zen cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the stock from $16.00 to $11.00 in a report on Friday, May 30th. Finally, Citigroup lowered Park Hotels & Resorts from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $12.20.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK traded up $0.03 during mid-day trading on Tuesday, hitting $12.10. The company had a trading volume of 3,428,133 shares, compared to its average volume of 4,092,993. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 44.82 and a beta of 1.80. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. 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's 50-day moving average price is $11.20 and its 200-day moving average price is $10.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $672.00 million during 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 firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.3%. Park Hotels & Resorts's payout ratio is 370.37%.

Park Hotels & Resorts 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.