Sivia Capital Partners LLC Acquires Shares of 22,495 Park Hotels & Resorts Inc. $PK

Key Points

• Sivia Capital Partners LLC has acquired a new stake in Park Hotels & Resorts Inc., purchasing 22,495 shares valued at approximately $230,000 during the 2nd quarter.
• Park Hotels & Resorts has a current consensus rating of "Hold" from analysts, with two Buy ratings and several downgraded target prices, including a reduction from Citigroup from $13.00 to $12.00.
• The company will pay a quarterly dividend of $0.25 per share on October 15, representing an annualized dividend yield of 8.3%.

Sivia Capital Partners LLC purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,495 shares of the financial services provider's stock, valued at approximately $230,000.

A number of other institutional investors have also made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 25.8% during the first 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 lifted its position in shares of Park Hotels & Resorts by 89.8% during 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 purchasing an additional 2,073,721 shares in the last quarter. H 2 Credit Manager LP lifted its position in shares of Park Hotels & Resorts by 13.9% during the first 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. lifted its position in shares of Park Hotels & Resorts by 9.8% during the first 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. lifted its position in shares of Park Hotels & Resorts by 31.1% during the first 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. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

PK traded down $0.31 on Monday, reaching $11.68. The company had a trading volume of 1,188,072 shares, compared to its average volume of 4,072,980. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one 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 company has a fifty day moving average of $11.28 and a 200-day moving average of $10.75. The company has a market capitalization of $2.33 billion, a P/E ratio of 43.24 and a beta of 1.80.

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 for the quarter, beating the consensus estimate 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 company had revenue of $672.00 million during the quarter, compared to analyst estimates of $672.37 million. During the same quarter last year, the firm posted $0.65 EPS. The business's revenue for the quarter 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, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.6%. Park Hotels & Resorts's dividend payout ratio is currently 370.37%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PK. Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Citigroup cut shares of Park Hotels & Resorts from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Truist Financial cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their target price for the stock from $16.00 to $11.00 in a research report on Friday, May 30th. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price target for the company. 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. According to MarketBeat, Park Hotels & Resorts has an average rating of "Hold" and an average price target of $12.20.

About Park Hotels & Resorts

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.