Atria Wealth Solutions Inc. Grows Stock Position in Park Hotels & Resorts Inc. $PK

Atria Wealth Solutions Inc. increased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 29.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,000 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Atria Wealth Solutions Inc.’s holdings in Park Hotels & Resorts were worth $238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PK. Sculptor Capital LP purchased a new stake in shares of Park Hotels & Resorts in the 1st quarter worth about $27,467,000. Donald Smith & CO. Inc. raised its stake in Park Hotels & Resorts by 25.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider’s stock valued at $123,646,000 after purchasing an additional 2,377,195 shares during the last quarter. AQR Capital Management LLC raised its stake in Park Hotels & Resorts by 89.8% in the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider’s stock valued at $46,378,000 after purchasing an additional 2,073,721 shares during the last quarter. Nuveen LLC acquired a new position in Park Hotels & Resorts in the 1st quarter valued at about $7,871,000. Finally, Private Management Group Inc. raised its stake in Park Hotels & Resorts by 31.1% in the 1st quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider’s stock valued at $31,790,000 after purchasing an additional 706,732 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Park Hotels & Resorts in a research note on Wednesday, October 8th. UBS Group boosted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. Cantor Fitzgerald assumed coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.00.

Park Hotels & Resorts Stock Up 2.4%

NYSE PK opened at $11.28 on Thursday. The stock has a market cap of $2.25 billion, a PE ratio of 41.76 and a beta of 1.83. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The business has a 50 day moving average price of $11.43 and a two-hundred day moving average price of $10.74. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35.

Park Hotels & Resorts (NYSE:PK) 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 firm 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 business earned $0.65 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 370.37%.

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.