Two Sigma Securities LLC Purchases New Position in Park Hotels & Resorts Inc. $PK

Two Sigma Securities LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 36,970 shares of the financial services provider’s stock, valued at approximately $527,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PK. Advisors Capital Management LLC purchased a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth about $19,160,000. Jupiter Topco LLC purchased a new position in Park Hotels & Resorts during the 2nd quarter valued at about $4,230,000. Donald Smith & CO. Inc. lifted its position in Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after acquiring an additional 1,813,338 shares during the period. Sivia Capital Partners LLC bought a new stake in Park Hotels & Resorts during the second quarter worth about $230,000. Finally, Matthew 25 Management Corp boosted its stake in Park Hotels & Resorts by 61.1% during the fourth quarter. Matthew 25 Management Corp now owns 765,000 shares of the financial services provider’s stock worth $8,002,000 after acquiring an additional 290,000 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

PK stock opened at $15.56 on Thursday. The stock’s 50 day simple moving average is $14.92 and its 200 day simple moving average is $12.82. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29. Park Hotels & Resorts Inc. has a 12-month low of $9.84 and a 12-month high of $16.20. The stock has a market capitalization of $3.13 billion, a PE ratio of -18.75, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 1.83 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.4%. Park Hotels & Resorts’s payout ratio is -120.48%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PK shares. Truist Financial boosted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on Park Hotels & Resorts from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald upped their price target on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.42.

About Park Hotels & Resorts

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.