Park Hotels & Resorts Inc. $PK Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,525 shares of the financial services provider’s stock after selling 3,700 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Park Hotels & Resorts were worth $241,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PK. Sculptor Capital LP purchased a new position in Park Hotels & Resorts in the 1st quarter valued at approximately $27,467,000. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 25.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider’s stock valued at $123,646,000 after purchasing an additional 2,377,195 shares in the last quarter. AQR Capital Management LLC increased its stake in Park Hotels & Resorts by 89.8% in the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider’s stock valued at $46,378,000 after purchasing an additional 2,073,721 shares in the last quarter. Nuveen LLC purchased a new position in Park Hotels & Resorts in the 1st quarter valued at approximately $7,871,000. Finally, Private Management Group Inc. increased its stake in Park Hotels & Resorts by 31.1% in the 1st quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider’s stock valued at $31,790,000 after purchasing an additional 706,732 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley reaffirmed an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. UBS Group raised their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Park Hotels & Resorts in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Park Hotels & Resorts Stock Down 0.8%

Shares of Park Hotels & Resorts stock opened at $11.07 on Friday. The firm has a market cap of $2.21 billion, a P/E ratio of 41.01 and a beta of 1.83. The business has a 50-day moving average price of $11.43 and a 200 day moving average price of $10.77. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $672.00 million during the quarter, compared to analyst estimates of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

About Park Hotels & Resorts

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.