Stock Traders Buy Large Volume of Park Hotels & Resorts Call Options (NYSE:PK)

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors acquired 2,939 call options on the company. This is an increase of 1,280% compared to the average volume of 213 call options.

Analyst Ratings Changes

Several research firms have commented on PK. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 6th. Barclays lifted their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Truist Financial lifted their target price on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, March 14th. Wells Fargo & Company lifted their target price on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 21st. Finally, Evercore ISI raised shares of Park Hotels & Resorts from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $19.00 to $20.00 in a research note on Wednesday, May 15th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.50.

Park Hotels & Resorts Stock Down 0.7 %

Shares of PK stock traded down $0.11 during mid-day trading on Wednesday, reaching $16.12. 1,178,346 shares of the company's stock traded hands, compared to its average volume of 2,730,714. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The company has a market cap of $3.39 billion, a P/E ratio of 36.88, a P/E/G ratio of 0.80 and a beta of 2.03. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. The company's 50-day moving average price is $16.77 and its 200-day moving average price is $15.96.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.17). The business had revenue of $639.00 million for the quarter, compared to the consensus estimate of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. On average, equities analysts expect that Park Hotels & Resorts will post 2.08 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts's payout ratio is 227.28%.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Park Hotels & Resorts by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider's stock worth $407,911,000 after buying an additional 347,812 shares during the last quarter. Donald Smith & CO. Inc. raised its position in Park Hotels & Resorts by 6.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 6,955,362 shares of the financial services provider's stock worth $121,649,000 after buying an additional 425,696 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Park Hotels & Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider's stock worth $41,945,000 after buying an additional 13,473 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider's stock worth $36,921,000 after buying an additional 1,809,886 shares during the last quarter. Finally, Norges Bank purchased a new position in Park Hotels & Resorts in the 4th quarter worth about $31,745,000. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.