Matthew 25 Management Corp Purchases 137,500 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Matthew 25 Management Corp increased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 975,000 shares of the financial services provider’s stock after purchasing an additional 137,500 shares during the period. Park Hotels & Resorts accounts for approximately 5.1% of Matthew 25 Management Corp’s portfolio, making the stock its 6th largest position. Matthew 25 Management Corp owned 0.46% of Park Hotels & Resorts worth $14,606,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new stake in Park Hotels & Resorts during the first quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $35,000. YHB Investment Advisors Inc. acquired a new stake in Park Hotels & Resorts during the 1st quarter worth $40,000. FinTrust Capital Advisors LLC lifted its position in Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 3,668 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in Park Hotels & Resorts by 53.5% in the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,260 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

NYSE PK traded down $0.14 during trading hours on Friday, hitting $14.13. 2,090,045 shares of the stock were exchanged, compared to its average volume of 2,671,249. Park Hotels & Resorts Inc. has a 12-month low of $11.05 and a 12-month high of $18.05. The stock has a 50-day moving average of $14.60 and a 200 day moving average of $15.71. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 0.74 and a beta of 2.02. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The business had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. As a group, equities research analysts forecast that Park Hotels & Resorts Inc. will post 2.1 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.08%. Park Hotels & Resorts’s payout ratio is currently 227.28%.

Analyst Ratings Changes

PK has been the subject of several research reports. Wedbush reissued a “neutral” rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Barclays boosted their price objective on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. UBS Group lowered their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Evercore ISI cut their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial decreased their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.25.

Park Hotels & Resorts 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.