AlphaQuest LLC Grows Position in Park Hotels & Resorts Inc. $PK

AlphaQuest LLC boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 173.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,774 shares of the financial services provider’s stock after buying an additional 59,452 shares during the quarter. AlphaQuest LLC’s holdings in Park Hotels & Resorts were worth $959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd increased its position in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,043 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Park Hotels & Resorts by 10.6% during the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,239 shares during the last quarter. Vident Advisory LLC increased its position in shares of Park Hotels & Resorts by 11.2% during the 1st quarter. Vident Advisory LLC now owns 13,153 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 1,325 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of Park Hotels & Resorts by 7.4% during the 1st quarter. EntryPoint Capital LLC now owns 19,889 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 1,367 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Park Hotels & Resorts by 10.7% during the 1st quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 1,455 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PK shares. UBS Group raised their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Park Hotels & Resorts in a research report on Saturday. Citigroup downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $12.00 in a research note on Tuesday, September 9th. Finally, Cantor Fitzgerald initiated coverage on Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.00.

Park Hotels & Resorts Stock Down 0.8%

Shares of NYSE PK opened at $11.07 on Friday. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The business has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $10.78. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. The company has a market cap of $2.21 billion, a P/E ratio of 41.01 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 for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The firm had revenue of $672.00 million for the quarter, compared to analysts’ expectations of $672.37 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s 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. Research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

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.