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

Optas LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,415 shares of the financial services provider’s stock, valued at approximately $117,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Park Hotels & Resorts by 140.9% in the first quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,395 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Park Hotels & Resorts by 401.2% in the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock valued at $56,000 after buying an additional 4,229 shares in the last quarter. Quarry LP increased its holdings in shares of Park Hotels & Resorts by 186.6% in the first quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock valued at $77,000 after buying an additional 4,668 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Park Hotels & Resorts by 47.1% in the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider’s stock valued at $81,000 after buying an additional 2,440 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Park Hotels & Resorts by 29.9% in the second quarter. Signaturefd LLC now owns 9,964 shares of the financial services provider’s stock valued at $102,000 after buying an additional 2,296 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 2.5%

PK stock opened at $10.48 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a 50-day moving average of $11.35 and a two-hundred day moving average of $10.72. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 38.82 and a beta of 1.83.

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

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 370.37%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PK. Wall Street Zen cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Cantor Fitzgerald began coverage on Park Hotels & Resorts in a report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Park Hotels & Resorts in a research note on Wednesday. JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They set an “underweight” rating and a $10.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

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.