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Valicenti Advisory Services Inc. Has $2.30 Million Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Financial News Live ·  09/27/2022 22:31

Valicenti Advisory Services Inc. reduced its stake in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169,639 shares of the financial services provider's stock after selling 7,542 shares during the quarter. Valicenti Advisory Services Inc. owned about 0.07% of Park Hotels & Resorts worth $2,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in Park Hotels & Resorts by 166.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the financial services provider's stock worth $28,000 after buying an additional 948 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Park Hotels & Resorts during the 4th quarter valued at $43,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Park Hotels & Resorts by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider's stock valued at $57,000 after buying an additional 1,022 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Park Hotels & Resorts during the 1st quarter valued at $133,000. Finally, Diversified Trust Co purchased a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at $163,000. 91.73% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PK. Barclays decreased their target price on Park Hotels & Resorts from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 7th. Sumitomo Mitsui Financial Group lowered Park Hotels & Resorts from an "outperform" rating to a "neutral" rating and set a $16.00 price target on the stock. in a research report on Monday, August 8th. Truist Financial upgraded Park Hotels & Resorts from a "hold" rating to a "buy" rating and increased their price objective for the stock from $19.00 to $22.00 in a report on Wednesday, June 1st. Evercore ISI reiterated an "in-line" rating and issued a $22.50 price objective on shares of Park Hotels & Resorts in a report on Monday, July 11th. Finally, Wells Fargo & Company upgraded Park Hotels & Resorts from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $20.00 to $17.00 in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.79.

Park Hotels & Resorts Stock Up 2.9 %

PK stock traded up $0.32 on Tuesday, reaching $11.53. 76,915 shares of the company traded hands, compared to its average volume of 3,344,438. Park Hotels & Resorts Inc. has a one year low of $11.20 and a one year high of $21.62. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $14.63 and a 200-day simple moving average of $16.43.

Park Hotels & Resorts (NYSE:PK – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.19. Park Hotels & Resorts had a negative return on equity of 1.38% and a negative net margin of 2.93%. The company had revenue of $695.00 million during the quarter, compared to analyst estimates of $661.19 million. Sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.49 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, September 29th. Park Hotels & Resorts's dividend payout ratio (DPR) is presently -18.18%.

Park Hotels & Resorts Profile

(Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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