Park Hotels & Resorts Inc. (NYSE:PK) Director Thomas D. Eckert Purchases 10,000 Shares of Stock

Park Hotels & Resorts Inc. (NYSE:PKGet Rating) Director Thomas D. Eckert acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average price of $15.12 per share, with a total value of $151,200.00. Following the completion of the acquisition, the director now owns 96,637 shares of the company’s stock, valued at approximately $1,461,151.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE:PK opened at $14.18 on Friday. The stock’s 50-day moving average is $18.35 and its 200-day moving average is $18.52. Park Hotels & Resorts Inc. has a 52-week low of $14.09 and a 52-week high of $22.23. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.09.

Park Hotels & Resorts (NYSE:PKGet Rating) last released its earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.25). Park Hotels & Resorts had a negative net margin of 19.45% and a negative return on equity of 7.37%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $420.53 million. During the same quarter in the previous year, the business posted ($0.48) EPS. The firm’s quarterly revenue was up 190.3% on a year-over-year basis. On average, analysts expect that Park Hotels & Resorts Inc. will post 1.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, June 29th. Park Hotels & Resorts’s payout ratio is presently -2.92%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. lifted its stake in Park Hotels & Resorts by 6.0% during the third quarter. Brookfield Asset Management Inc. now owns 6,504,767 shares of the financial services provider’s stock worth $124,501,000 after purchasing an additional 369,876 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Park Hotels & Resorts by 68.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 123,017 shares of the financial services provider’s stock worth $2,330,000 after purchasing an additional 50,092 shares during the period. Rafferty Asset Management LLC lifted its stake in Park Hotels & Resorts by 24.7% during the fourth quarter. Rafferty Asset Management LLC now owns 26,880 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 5,324 shares during the period. JPMorgan Chase & Co. lifted its stake in Park Hotels & Resorts by 45.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,416,035 shares of the financial services provider’s stock worth $102,254,000 after purchasing an additional 1,680,145 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Park Hotels & Resorts by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 2,394,099 shares of the financial services provider’s stock valued at $45,822,000 after acquiring an additional 19,976 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research report on Tuesday, May 3rd. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. TheStreet raised shares of Park Hotels & Resorts from a “d+” rating to a “c-” rating in a research report on Friday, February 18th. Truist Financial raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $19.00 to $22.00 in a research report on Wednesday, June 1st. Finally, Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $19.00 in a research report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.83.

About Park Hotels & Resorts (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.

Featured Articles

Want More Great Investing Ideas?

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.