Park Hotels & Resorts Inc. $PK Shares Bought by Matthew 25 Management Corp

Matthew 25 Management Corp raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 368.0% during the third quarter, HoldingsChannel.com reports. The firm owned 475,000 shares of the financial services provider’s stock after buying an additional 373,500 shares during the quarter. Park Hotels & Resorts comprises 1.6% of Matthew 25 Management Corp’s investment portfolio, making the stock its 16th biggest position. Matthew 25 Management Corp’s holdings in Park Hotels & Resorts were worth $5,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Parvin Asset Management LLC purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter worth about $26,000. Clearstead Advisors LLC raised its holdings in Park Hotels & Resorts by 326.4% in the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after buying an additional 2,448 shares during the period. Allworth Financial LP raised its holdings in Park Hotels & Resorts by 322.4% in the second quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider’s stock valued at $40,000 after buying an additional 2,992 shares during the period. Parkside Financial Bank & Trust lifted its position in Park Hotels & Resorts by 1,288.9% during the third quarter. Parkside Financial Bank & Trust now owns 8,722 shares of the financial services provider’s stock valued at $97,000 after buying an additional 8,094 shares in the last quarter. Finally, Journey Strategic Wealth LLC acquired a new position in Park Hotels & Resorts during the third quarter valued at approximately $114,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 3.3%

Shares of NYSE:PK opened at $10.93 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -7.64 and a beta of 1.40. The company has a 50 day moving average of $11.20 and a two-hundred day moving average of $11.10. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $12.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($1.50). The firm had revenue of $629.00 million for the quarter, compared to analyst estimates of $621.79 million. Park Hotels & Resorts had a negative return on equity of 8.56% and a negative net margin of 11.14%.The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.1%. Park Hotels & Resorts’s payout ratio is currently -69.93%.

Insider Buying and Selling

In other news, Director Christie B. Kelly acquired 2,949 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was bought at an average cost of $11.19 per share, with a total value of $32,999.31. Following the transaction, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. This represents a 2.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PK has been the subject of several recent research reports. Morgan Stanley set a $10.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 3rd. Zacks Research raised shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Evercore lowered their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Finally, Barclays began coverage on Park Hotels & Resorts in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $11.27.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.