Wolverine Asset Management LLC Sells 10,799 Shares of Park Hotels & Resorts Inc. $PK

Wolverine Asset Management LLC lessened its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,093 shares of the financial services provider’s stock after selling 10,799 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.05% of Park Hotels & Resorts worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. IFM Investors Pty Ltd raised its holdings in shares of Park Hotels & Resorts by 2.2% during the first quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 1,043 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Park Hotels & Resorts by 10.6% during the first quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,239 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Park Hotels & Resorts by 11.2% during the first quarter. Vident Advisory LLC now owns 13,153 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,325 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Park Hotels & Resorts by 7.4% during the first quarter. EntryPoint Capital LLC now owns 19,889 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 1,367 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Park Hotels & Resorts by 10.7% during the first quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 1,455 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $10.30 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $2.06 billion, a P/E ratio of -147.09 and a beta of 1.83. The business has a fifty day simple moving average of $11.39 and a two-hundred day simple moving average of $10.83. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data 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). The firm had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $617.05 million. Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.24%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.7%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 370.37%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PK shares. Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a report on Friday, October 3rd. Citigroup downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $12.00 in a report on Tuesday, September 9th. UBS Group increased their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Cantor Fitzgerald assumed coverage on Park Hotels & Resorts in a research report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Wall Street Zen lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $11.20.

Park Hotels & Resorts Company Profile

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.