Jacobs Levy Equity Management Inc. Sells 27,181 Shares of Park Hotels & Resorts Inc. $PK

Jacobs Levy Equity Management Inc. cut its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.42% of Park Hotels & Resorts worth $8,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PK. Kettle Hill Capital Management LLC purchased a new stake in shares of Park Hotels & Resorts in the first quarter worth about $2,327,000. AQR Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 89.8% in the first quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider's stock worth $46,378,000 after buying an additional 2,073,721 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 47.2% in the first quarter. Advisors Asset Management Inc. now owns 126,739 shares of the financial services provider's stock worth $1,354,000 after buying an additional 40,666 shares in the last quarter. Amundi lifted its holdings in shares of Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider's stock worth $1,119,000 after buying an additional 2,179 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Park Hotels & Resorts by 20,000.0% in the first quarter. Ancora Advisors LLC now owns 20,100 shares of the financial services provider's stock worth $215,000 after buying an additional 20,000 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

NYSE PK traded down $0.05 on Friday, reaching $11.96. 2,887,553 shares of the company's stock traded hands, compared to its average volume of 3,097,609. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23. 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 stock has a 50-day simple moving average of $11.17 and a 200 day simple moving average of $10.76. The stock has a market cap of $2.39 billion, a PE ratio of 44.28 and a beta of 1.80.

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

Park Hotels & Resorts Announces Dividend

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

Analyst Ratings Changes

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

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.