Park Hotels & Resorts Inc. (NYSE:PK) Short Interest Update

Park Hotels & Resorts Inc. (NYSE:PK) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 16,280,000 shares, a drop of 19.6% from the November 30th total of 20,260,000 shares. Based on an average daily volume of 3,110,000 shares, the days-to-cover ratio is currently 5.2 days. Approximately 8.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Park Hotels & Resorts in the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP boosted its holdings in shares of Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the period. Claro Advisors LLC purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at $69,000. Finally, Covestor Ltd raised its stake in shares of Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 0.9 %

Shares of PK stock traded down $0.14 on Friday, hitting $14.92. The stock had a trading volume of 4,578,526 shares, compared to its average volume of 2,812,437. Park Hotels & Resorts has a 12-month low of $13.23 and a 12-month high of $18.05. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03. The business has a 50 day moving average of $14.84 and a 200 day moving average of $14.66. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. As a group, analysts expect that Park Hotels & Resorts will post 1.96 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 17.43%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Analyst Upgrades and Downgrades

PK has been the topic of several recent research reports. Compass Point cut their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Truist Financial reduced their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, Bank of America reduced their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average price target of $18.55.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.