Wealth Enhancement Advisory Services LLC Acquires 24,252 Shares of Park Hotels & Resorts Inc. $PK

Key Points

• Wealth Enhancement Advisory Services LLC has increased its stake in Park Hotels & Resorts by 25.2%, now owning 120,617 shares worth approximately $1.3 million.
• Park Hotels & Resorts reported $0.64 earnings per share for the last quarter, exceeding estimates, but experienced a 2% decline in revenue compared to the same period last year.
• The company has announced a quarterly dividend of $0.25 per share, translating to a yield of 9.0%, with an unusually high dividend payout ratio of 370.37%.

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 25.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,617 shares of the financial services provider's stock after purchasing an additional 24,252 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Park Hotels & Resorts worth $1,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP boosted its holdings in shares of Park Hotels & Resorts by 59.1% in the 4th quarter. Two Sigma Advisers LP now owns 28,000 shares of the financial services provider's stock valued at $394,000 after buying an additional 10,400 shares in the last quarter. Versant Capital Management Inc boosted its stake in Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 2,539 shares in the last quarter. GAMMA Investing LLC boosted its stake in Park Hotels & Resorts by 5,253.1% in the first quarter. GAMMA Investing LLC now owns 56,422 shares of the financial services provider's stock valued at $603,000 after acquiring an additional 55,368 shares in the last quarter. Merit Financial Group LLC boosted its stake in Park Hotels & Resorts by 315.0% in the first quarter. Merit Financial Group LLC now owns 42,922 shares of the financial services provider's stock valued at $458,000 after acquiring an additional 32,580 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC boosted its position in shares of Park Hotels & Resorts by 10.9% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 296,928 shares of the financial services provider's stock worth $3,171,000 after purchasing an additional 29,118 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Down 3.8%

Shares of Park Hotels & Resorts stock opened at $11.08 on Wednesday. The firm has a 50-day simple moving average of $11.36 and a two-hundred day simple moving average of $10.75. The company has a market cap of $2.22 billion, a P/E ratio of 41.04 and a beta of 1.80. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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%.Park Hotels & Resorts's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

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 9.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 370.37%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PK. Morgan Stanley reissued an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Citigroup downgraded Park Hotels & Resorts from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Wells Fargo & Company lifted their target price 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. Finally, JPMorgan Chase & Co. started coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They set an "underweight" rating and a $10.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average target price 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.

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