Riverview Capital Advisers LLC Grows Stock Holdings in Park Hotels & Resorts Inc. $PK

Riverview Capital Advisers LLC lifted its position in Park Hotels & Resorts Inc. (NYSE:PK) by 46.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 676,496 shares of the financial services provider’s stock after buying an additional 215,350 shares during the quarter. Park Hotels & Resorts makes up 2.0% of Riverview Capital Advisers LLC’s investment portfolio, making the stock its 13th largest holding. Riverview Capital Advisers LLC owned approximately 0.34% of Park Hotels & Resorts worth $6,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of Park Hotels & Resorts in the first quarter valued at $5,593,000. Parallel Advisors LLC raised its holdings in Park Hotels & Resorts by 374.8% in the second quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 23,558 shares in the last quarter. Ethic Inc. lifted its stake in Park Hotels & Resorts by 179.5% in the second quarter. Ethic Inc. now owns 38,789 shares of the financial services provider’s stock worth $408,000 after acquiring an additional 24,911 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Park Hotels & Resorts in the 2nd quarter valued at approximately $113,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Park Hotels & Resorts by 47.2% in the 1st quarter. Advisors Asset Management Inc. now owns 126,739 shares of the financial services provider’s stock valued at $1,354,000 after purchasing an additional 40,666 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Down 2.1%

Park Hotels & Resorts stock opened at $10.60 on Tuesday. The stock has a 50 day moving average of $10.79 and a two-hundred day moving average of $10.87. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -151.36 and a beta of 1.45. 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 (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 for the quarter, compared to analysts’ expectations of $617.05 million. During the same quarter last year, the company earned $0.49 EPS. Park Hotels & Resorts’s revenue for the quarter was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.4%. Park Hotels & Resorts’s payout ratio is currently -1,428.57%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald initiated coverage on Park Hotels & Resorts in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price target on the stock. Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Tuesday, November 25th. Evercore ISI cut their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, November 20th. Finally, UBS Group lifted their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $11.00.

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.