Private Management Group Inc. Has $35.30 Million Stake in Park Hotels & Resorts Inc. $PK

Private Management Group Inc. raised its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,185,571 shares of the financial services provider’s stock after acquiring an additional 186,713 shares during the period. Park Hotels & Resorts comprises about 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 25th largest position. Private Management Group Inc.’s holdings in Park Hotels & Resorts were worth $35,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Amundi boosted its stake in shares of Park Hotels & Resorts by 1.9% in the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 2,179 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Park Hotels & Resorts by 849.3% in the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after purchasing an additional 468,668 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $152,000. Empowered Funds LLC increased its position in shares of Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 4,374 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $10.20 on Friday. The firm has a fifty day moving average of $11.19 and a two-hundred day moving average of $11.07. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -7.13 and a beta of 1.40. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $12.39.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($1.50). Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The company had revenue of $629.00 million during the quarter, compared to the consensus estimate of $621.79 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. As a group, equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.8%. Park Hotels & Resorts’s dividend payout ratio is -69.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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. Zacks Research raised shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Cantor Fitzgerald boosted their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Barclays initiated coverage on Park Hotels & Resorts in a research report on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, December 1st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $11.27.

Insider Buying and Selling at Park Hotels & Resorts

In other news, Director Christie B. Kelly purchased 2,949 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the transaction, the director directly owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. The trade was a 2.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is owned by corporate insiders.

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.