SAM Advisors LLC Makes New Investment in Park Hotels & Resorts Inc. $PK

SAM Advisors LLC acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 199,682 shares of the financial services provider’s stock, valued at approximately $2,212,000. Park Hotels & Resorts comprises approximately 0.7% of SAM Advisors LLC’s investment portfolio, making the stock its 21st largest position.

A number of other large investors have also added to or reduced their stakes in the stock. Sculptor Capital LP lifted its holdings in Park Hotels & Resorts by 154.1% in the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after acquiring an additional 3,962,304 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Bank of America Corp DE increased its holdings in Park Hotels & Resorts by 34.6% during the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after buying an additional 3,309,275 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Park Hotels & Resorts by 47.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,933,080 shares of the financial services provider’s stock worth $30,032,000 after purchasing an additional 948,128 shares in the last quarter. Finally, CSM Advisors LLC purchased a new position in Park Hotels & Resorts during the second quarter valued at $5,254,000. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $11.56 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of -165.14 and a beta of 1.44. The business’s 50-day moving average is $10.81 and its 200 day moving average is $11.01. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $13.90.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The company had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. During the same quarter in the prior year, the business posted $0.49 EPS. The company’s revenue was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PK. Zacks Research cut shares of Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. Wells Fargo & Company dropped their target price on shares of 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. Barclays began coverage on Park Hotels & Resorts in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price objective for the company. Truist Financial lifted their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, December 4th. Finally, Morgan Stanley set a $10.00 price target on Park Hotels & Resorts in a report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Reduce” and a consensus price target of $11.27.

Insiders Place Their Bets

In other news, Director Christie B. Kelly bought 2,949 shares of Park Hotels & Resorts stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average price of $11.19 per share, with a total value of $32,999.31. Following the completion of the purchase, the director owned 150,501 shares in the company, valued at $1,684,106.19. The trade was a 2.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Park Hotels & Resorts 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.