Park Hotels & Resorts Inc. [PK] moved up 2.79: Why It’s Important

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Park Hotels & Resorts Inc. [NYSE: PK] closed the trading session at $15.45 on 07/28/22. The day’s price range saw the stock hit a low of $14.835, while the highest price level was $15.46. The company report on June 23, 2022 that Park Hotels & Resorts Inc. Completes the Sales of the Homewood Suites by Hilton Seattle Convention Center and Its 25% Joint Venture Interest in the Hilton San Diego Bayfront.


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Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it has closed on the sale of the 195-room Homewood Suites by Hilton Seattle Convention Center Pike Street in Seattle, WA and completed the previously-announced sale of its 25% joint venture interest in the 1,190-room Hilton San Diego Bayfront in San Diego, CA. Combined gross proceeds for the two transactions totaled $237 million, which includes Park’s $55 million pro-rata share of secured debt on the Hilton San Diego Bayfront. Excluding anticipated capital expenditures, the combined sale price represents a 6.3% capitalization rate on 2019 net operating income, or 14.0x multiple on 2019 EBITDA. Proceeds from the sales will be used for general corporate purposes.

“I am pleased with the progress we have made toward our targeted goal of $200 million to $300 million of asset sales in 2022. Year to date, we have sold interests in four hotels for combined gross proceeds of approximately $260 million at attractive pricing, with one additional non-core hotel currently under contract for $9.4 million. Our aggressive capital recycling program represents our on-going commitment to reduce net leverage and better position our portfolio for long-term, sustainable growth,” commented Thomas J. Baltimore, Jr., Chairman and Chief Executive Officer of Park.

The stocks have a year to date performance of -18.17 percent and weekly performance of 3.62 percent. The stock has been moved at -13.78 percent over the last six months. The stock has performed 9.89 percent around the most recent 30 days and changed -22.63 percent over the most recent 3-months.

If compared to the average trading volume of 4.08M shares, PK reached to a volume of 3051158 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Park Hotels & Resorts Inc. [PK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PK shares is $21.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PK stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Park Hotels & Resorts Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on July 11, 2022. While these analysts kept the previous recommendation, Truist raised their target price from $19 to $22. The new note on the price target was released on June 01, 2022, representing the official price target for Park Hotels & Resorts Inc. stock. Previously, the target price had yet another drop from $25 to $19, while Jefferies kept a Hold rating on PK stock. On January 10, 2022, analysts decreased their price target for PK shares from 24 to 23.

The Average True Range (ATR) for Park Hotels & Resorts Inc. is set at 0.63, with the Price to Sales ratio for PK stock in the period of the last 12 months amounting to 2.19. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 2.69.

PK stock trade performance evaluation

Park Hotels & Resorts Inc. [PK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.62. With this latest performance, PK shares gained by 9.89% in over the last four-week period, additionally sinking by -13.78% over the last 6 months – not to mention a drop of -17.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PK stock in for the last two-week period is set at 57.48, with the RSI for the last a single of trading hit 65.53, and the three-weeks RSI is set at 52.25 for Park Hotels & Resorts Inc. [PK]. The present Moving Average for the last 50 days of trading for this stock 15.60, while it was recorded at 14.90 for the last single week of trading, and 17.99 for the last 200 days.

Park Hotels & Resorts Inc. [PK]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Park Hotels & Resorts Inc. [PK] shares currently have an operating margin of -12.11 and a Gross Margin at -3.96. Park Hotels & Resorts Inc.’s Net Margin is presently recorded at -33.70.

Return on Equity for this stock declined to -9.82, with Return on Assets sitting at -4.52.

Park Hotels & Resorts Inc. [PK]: Insider Ownership positions

There are presently around $3,184 million, or 93.10% of PK stock, in the hands of institutional investors. The top three institutional holders of PK stocks are: VANGUARD GROUP INC with ownership of 33,696,042, which is approximately 1.712% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 29,740,571 shares of the stock with an approximate value of $447.0 million in PK stocks shares; and PGGM INVESTMENTS, currently with $207.09 million in PK stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Park Hotels & Resorts Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 148 institutional holders increased their position in Park Hotels & Resorts Inc. [NYSE:PK] by around 20,677,304 shares. Additionally, 141 investors decreased positions by around 27,602,858 shares, while 51 investors held positions by with 163,566,729 shares. The mentioned changes placed institutional holdings at 211,846,891 shares, according to the latest SEC report filing. PK stock had 45 new institutional investments in for a total of 6,269,118 shares, while 35 institutional investors sold positions of 2,503,822 shares during the same period.

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