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

Several other institutional investors also recently modified their holdings of the company. Donald Smith & CO. Inc. grew its holdings in shares of Park Hotels & Resorts by 25.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider's stock worth $123,646,000 after purchasing an additional 2,377,195 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Park Hotels & Resorts by 89.8% during the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider's stock worth $46,378,000 after purchasing an additional 2,073,721 shares in the last quarter. H 2 Credit Manager LP grew its holdings in shares of Park Hotels & Resorts by 13.9% during the 1st quarter. H 2 Credit Manager LP now owns 3,903,750 shares of the financial services provider's stock worth $41,692,000 after purchasing an additional 475,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Park Hotels & Resorts by 9.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,195,453 shares of the financial services provider's stock worth $34,127,000 after purchasing an additional 286,470 shares in the last quarter. Finally, Private Management Group Inc. grew its holdings in shares of Park Hotels & Resorts by 31.1% during the 1st quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider's stock worth $31,790,000 after purchasing an additional 706,732 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PK. Wells Fargo & Company lifted their price objective 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 reissued an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Wall Street Zen downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Truist Financial downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their target price for the stock from $16.00 to $11.00 in a research report on Friday, May 30th. Finally, 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 for the company. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.20.

Park Hotels & Resorts Price Performance

PK traded up $0.17 during trading on Thursday, hitting $12.15. The company's stock had a trading volume of 3,768,272 shares, compared to its average volume of 3,206,766. The firm's 50 day moving average price is $11.27 and its two-hundred day moving average price is $10.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 45.00 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 earnings per share (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 the consensus estimate of $672.37 million. During the same quarter in the previous year, the company 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. Sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.2%. Park Hotels & Resorts's payout ratio is presently 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.