The Vanguard Group, Inc. recently announced the acquisition of new stake in Park Hotels & Resorts Inc (NYSE:PK). The institutional investor has increased its shareholding in the Real Estate company by 1.09% to 32.62 million shares with purchase of 0.35 million shares. This fresh investment now brings its stake to 15.54% valued currently at $499.11 million. In addition, SSgA Funds Management, Inc. raised its holdings by 19923.0 to 12.55 million shares. And Donald Smith & Co., Inc. has lifted its position by 43.58% or 1.46 million shares – to 4.8 million shares.
Currently, there are 224.06M common shares owned by the public and among those 204.72M shares have been available to trade.
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Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 433,442 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 143,685 shares.
The top 3 mutual fund holders in Park Hotels & Resorts Inc are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF. Vanguard Real Estate Index Fund owns 8.66 million shares of the company’s stock, all valued at over $132.56 million. The company sold 79929.0 shares recently to bring their total holdings to about 4.13% of the shares outstanding. Vanguard Total Stock Market ETF bought 7359.0 shares to see its total holdings expand to 6.41 million shares valued at over $98.13 million and representing 3.05% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 5770.0 shares to bring its total holdings to over 6.38 million shares at a value of $97.61 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 3.04% of the shares outstanding.
However, the script later moved the day high at 16.49, down -4.42%. The company’s stock has a 5-day price change of -2.38% and 46.61% over the past three months. PK shares are trading 1.70% year to date (YTD), with the 12-month market performance up to 32.41% higher. It has a 12-month low price of $9.74 and touched a high of $16.77 over the same period. PK has an average intraday trading volume of 3.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.74%, 7.95%, and 26.68% respectively.
Institutional ownership of Park Hotels & Resorts Inc (NYSE: PK) shares accounts for 95.53% of the company’s 224.06M shares outstanding. Mutual fund holders own 49.22%, while other institutional holders and individual stakeholders account for 9.93% and 47.09% respectively.
It has a market capitalization of $3.27B and a beta (3y monthly) value of 2.04. The stock’s trailing 12-month PE ratio is 33.18, while the earnings-per-share (ttm) stands at $0.47. The company has a PEG of 4.15 and the debt-to-equity ratio at 1.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.78% over the week and 2.61% over the month.
Analysts forecast that Park Hotels & Resorts Inc (PK) will achieve an EPS of $Philip Morris International Inc for the current quarter, $91.80 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Opko Health, Inc. while analysts give the company a high EPS estimate of $PKR/CHF. Comparatively, EPS for the current quarter was $PKR/BRX a year ago. Earnings per share for the fiscal year are expected to decrease by -139.28%, and 343.01% over the next financial year. EPS should grow at an annualized rate of 8.00% over the next five years, compared to -27.93% over the past 5-year period.
Looking at the support for the PK, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on January 02, 2024, with the firm’s price target at $14-$21.
