The Vanguard Group, Inc. has recently announced that it has increased stake in Park Hotels & Resorts Inc (NYSE:PK) by 1.09%. After grabbing 32.62 million shares, the institutional investor is now in possession of 0.35 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 15.54% having worth around $483.78 million. Moreover, SSgA Funds Management, Inc. increased its share by 19923.0 to have a control over 12.55 million shares. And Donald Smith & Co., Inc. raised its holdings to 1.46 million shares by acquiring 4.8 million shares or 2.29% of the stake.
Park Hotels & Resorts Inc (PK) concluded trading on 12/28/23 at a closing price of $15.37, with 3.47 million shares of worth about $53.38 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 32.23% during that period and on Thursday the price saw a loss of about -2.23%. Currently the company’s common shares owned by public are about 224.06M shares, out of which, 204.72M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the PK stock and their offered price forecasts bring an average price target of $16.72. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $25.00 and could fall to a lowest price of $11.58. The stock’s current price level is 8.07% above of average price target set by the analysts, while a rise to estimated low would result in loss of -32.73% for the stock. However, touching the estimated high of $25.00 would mean a gain of 38.52% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 59 times over the past 12 months. They bought 433,442 shares in 30 of the transactions. In 29 selling transactions, insiders dumped 143,685 shares.
Vanguard Real Estate Index Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Park Hotels & Resorts Inc Vanguard Real Estate Index Fund is currently holding 8.89 million shares of worth totaling $131.82 million. The company recently came selling 62686.0 shares which brought its stake up to 4.23% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 1181.0 shares, after which its hold over company’s outstanding shares expand to 3.17%, leaving 6.65 million shares with the mutual fund that have a worth of about $98.69 million. Vanguard Total Stock Market ETF, after buying 6.41 million shares, have now control over 3.05% of the stake in the company. It holds 10410.0 shares of worth $95.0 million.
Park Hotels & Resorts Inc (NYSE: PK) started trading at $15.55, below -$0.17 from concluding price of the previous day. However, the stock later moved at a day high price of 15.65, or with a loss of -2.23%. Stock saw a price change of 3.85% in past 5 days and over the past one month there was a price change of 14.17%. Year-to-date (YTD), PK shares are showing a performance of 43.22% which increased to 45.10% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.74 but also hit the highest price of $15.81 during that period. The average intraday trading volume for Park Hotels & Resorts Inc shares is 3.40 million. The stock is currently trading 6.90% above its 20-day simple moving average (SMA20), while that difference is up 19.61% for SMA50 and it goes to 29.48% higher than SMA200.
The Vanguard Group, Inc. acquired 32.62 million shares of Park Hotels & Resorts Inc having value of about $483.78 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.35 million shares in the company valued at close to $5389813.27, or have control over 1.09% stake in the company. Park Hotels & Resorts Inc (NYSE: PK) currently have 224.06M outstanding shares and institutions hold larger chunk of about 95.39% of that. Holding of mutual funds in the company is about 48.13% while other institutional holders and individual stake holders have control over 9.93% and 48.04% of the stake respectively.
The stock has a current market capitalization of $3.23B and its 3Y-monthly beta is at 2.05. It has posted earnings per share of -$0.27 in the same period. It has a debt-to-equity ratio of 1.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PK, volatility over the week remained 2.19% while standing at 2.67% over the month.
Analysts are in expectations that Park Hotels & Resorts Inc (PK) stock would likely to be making an EPS of $0.17 in the current quarter, while forecast for next quarter EPS is $0.08 and it is $0.67 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.09 which is $0.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.15 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -139.48% while it is estimated to increase by 339.99% in next year. EPS is likely to grow at an annualized rate of 8.00% for next 5-years, compared to annual growth of -43.40% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the Park Hotels & Resorts Inc (PK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.42. Out of those 19 Wall Street analysts, 5 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on December 14, 2023 offering a Neutral rating for the stock and assigned a target price range of between $11 and $16 to it.
