Jacobs Levy Equity Management Inc. Decreases Holdings in Park Hotels & Resorts Inc. $PK

Jacobs Levy Equity Management Inc. decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 831,010 shares of the financial services provider's stock after selling 27,181 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.42% of Park Hotels & Resorts worth $8,875,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management increased its stake in Park Hotels & Resorts by 47.1% during the 1st quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 2,440 shares in the last quarter. M&T Bank Corp increased its stake in shares of Park Hotels & Resorts by 54.8% in the first quarter. M&T Bank Corp now owns 75,070 shares of the financial services provider's stock worth $801,000 after acquiring an additional 26,586 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Park Hotels & Resorts by 34.4% in the first quarter. Teacher Retirement System of Texas now owns 30,199 shares of the financial services provider's stock worth $323,000 after acquiring an additional 7,724 shares during the period. Boston Partners increased its stake in shares of Park Hotels & Resorts by 35.2% in the first quarter. Boston Partners now owns 71,343 shares of the financial services provider's stock worth $762,000 after acquiring an additional 18,566 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Park Hotels & Resorts by 93.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 96,365 shares of the financial services provider's stock worth $1,029,000 after acquiring an additional 46,615 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

PK stock traded up $0.12 during midday trading on Wednesday, hitting $11.83. 2,992,634 shares of the stock traded hands, compared to its average volume of 3,212,133. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $2.36 billion, a P/E ratio of 43.80 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 stock's fifty day simple moving average is $11.13 and its 200-day simple moving average is $10.78.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted 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. The business had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 370.37%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PK shares. Truist Financial lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price objective for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Citigroup lowered shares of Park Hotels & Resorts from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $13.00 to $12.00 in a research note on Tuesday. Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective on the stock. in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Park Hotels & Resorts in a research report on Monday, June 23rd. They set an "underweight" rating and a $10.00 price target on the stock. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average 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.