Park Hotels & Resorts Inc. (NYSE:PK) is Matthew 25 Management Corp’s 6th Largest Position

Matthew 25 Management Corp lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 16.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 975,000 shares of the financial services provider’s stock after acquiring an additional 137,500 shares during the period. Park Hotels & Resorts accounts for 5.1% of Matthew 25 Management Corp’s portfolio, making the stock its 6th largest position. Matthew 25 Management Corp’s holdings in Park Hotels & Resorts were worth $14,606,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Park Hotels & Resorts in the 4th quarter worth about $31,745,000. Los Angeles Capital Management LLC lifted its position in Park Hotels & Resorts by 601.1% during the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after buying an additional 1,809,886 shares in the last quarter. SG Americas Securities LLC grew its stake in Park Hotels & Resorts by 15,714.0% during the first quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after buying an additional 1,292,792 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of Park Hotels & Resorts by 135.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after acquiring an additional 801,372 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Park Hotels & Resorts during the 4th quarter valued at $9,180,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Down 1.0 %

Shares of Park Hotels & Resorts stock traded down $0.14 during trading on Friday, reaching $14.13. The company had a trading volume of 2,090,045 shares, compared to its average volume of 2,671,249. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05. The firm’s fifty day moving average is $14.60 and its 200-day moving average is $15.71. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 0.74 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, analysts anticipate that Park Hotels & Resorts Inc. will post 2.1 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

Analysts Set New Price Targets

Several research analysts have commented on PK shares. Evercore ISI cut their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Truist Financial reduced their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group decreased their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Barclays lifted their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Wedbush restated a “neutral” rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.25.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.