Park Hotels & Resorts (NYSE:PK) Stock Sees Unusually High Put Option Buying

Park Hotels & Resorts Inc. (NYSE:PK) saw unusually large options trading activity on Monday. Stock traders purchased 3,901 put options on the company. This is an increase of 549% compared to the average daily volume of 601 put options.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently bought and sold shares of PK. NorthCrest Asset Manangement LLC bought a new stake in Park Hotels & Resorts in the 3rd quarter worth approximately $160,000. Wedmont Private Capital bought a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at $179,000. Post Resch Tallon Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 4.7% during the 3rd quarter. Post Resch Tallon Group Inc. now owns 35,933 shares of the financial services provider’s stock valued at $554,000 after buying an additional 1,615 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Park Hotels & Resorts by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 16,736 shares of the financial services provider’s stock valued at $258,000 after buying an additional 2,691 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Park Hotels & Resorts by 20.9% in the 2nd quarter. QRG Capital Management Inc. now owns 195,385 shares of the financial services provider’s stock worth $2,784,000 after buying an additional 33,713 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

PK has been the topic of several research reports. Raymond James Financial raised Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $18.00 target price on shares of Park Hotels & Resorts in a research report on Friday, August 14th. Morgan Stanley raised their target price on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group upgraded Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Cantor Fitzgerald lifted their price target on Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.91.

Park Hotels & Resorts Stock Up 1.9%

PK traded up $0.29 during midday trading on Tuesday, reaching $15.46. The company’s stock had a trading volume of 1,897,857 shares, compared to its average volume of 4,286,333. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.36. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29. Park Hotels & Resorts has a 1 year low of $9.84 and a 1 year high of $16.20. The stock’s 50-day moving average is $15.27 and its 200-day moving average is $13.67.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The firm had revenue of $680.00 million during the quarter, compared to analyst estimates of $659.68 million. During the same period last year, the business earned $0.64 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. As a group, research analysts expect that Park Hotels & Resorts will post 1.86 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.5%. Park Hotels & Resorts’s payout ratio is presently -120.48%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc (NYSE:PK) is a real estate investment trust that owns and leases a portfolio of hotels and resorts. The company focuses primarily on upper-upscale and luxury properties in high-demand business and leisure destinations.

Park’s portfolio includes full-service hotels operating under well-known hospitality brands, including Hilton, Hyatt and Marriott, as well as independent properties. Its hotels provide lodging, food and beverage, meeting and event facilities, resort amenities and other guest services.

Park Hotels & Resorts was formed in 2016 and became an independent, publicly traded company in 2017 after being spun off from Hilton Worldwide Holdings.