CastleKnight Management LP Sells 49,978 Shares of Park Hotels & Resorts Inc. $PK

CastleKnight Management LP trimmed its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 870,022 shares of the financial services provider’s stock after selling 49,978 shares during the quarter. CastleKnight Management LP’s holdings in Park Hotels & Resorts were worth $9,100,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Guggenheim Capital LLC bought a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $219,000. Caisse de depot et placement du Quebec bought a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $4,518,000. Abel Hall LLC bought a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $197,000. Cetera Investment Advisers grew its position in Park Hotels & Resorts by 24.8% during the fourth quarter. Cetera Investment Advisers now owns 26,360 shares of the financial services provider’s stock valued at $276,000 after buying an additional 5,231 shares during the period. Finally, Jain Global LLC bought a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $711,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Stock Performance

PK opened at $14.46 on Thursday. The firm has a market cap of $2.91 billion, a P/E ratio of -13.26, a PEG ratio of 1.97 and a beta of 1.37. Park Hotels & Resorts Inc. has a 1-year low of $9.84 and a 1-year high of $14.95. The company has a 50 day simple moving average of $12.00 and a two-hundred day simple moving average of $11.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The firm had revenue of $622.00 million during the quarter, compared to the consensus estimate of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. LADENBURG THALM/SH SH boosted their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Truist Financial upped their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $12.68.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.