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Thomas D. Eckert, a director at Park Hotels & Resorts Inc. (NYSE:PK), recently acquired 20,000 shares of the company’s common stock. The purchase, made on March 4, 2025, was executed at a price of $11.75 per share, totaling $235,000. Following this transaction, Eckert holds 157,478 shares directly. Additionally, through limited liability companies, Sopris I LLC and Sopris III LLC, Eckert indirectly owns 12,000 and 11,000 shares, respectively. According to InvestingPro analysis, the stock appears undervalued, with multiple indicators supporting this view, including low earnings and EBITDA multiples. InvestingPro subscribers have access to 13 additional key insights about Park Hotels & Resorts, along with comprehensive valuation metrics and financial health indicators.
In other recent news, Park Hotels & Resorts Inc. reported impressive fourth-quarter 2024 earnings, significantly exceeding Wall Street expectations. The company achieved an earnings per share of $0.32, surpassing the forecasted $0.07, and posted revenues of $625 million, which were above the anticipated $610.3 million. Alongside these financial results, Park Hotels & Resorts is embarking on a major renovation project, investing $100 million into the Royal Palm Resort in Miami. The company is also focusing on asset sales, targeting $300-$400 million in non-core asset sales for 2025. Despite these positive developments, the stock saw only a slight increase in after-hours trading. Looking ahead, Park Hotels & Resorts projects RevPAR growth of 0-3% for 2025, with an adjusted EBITDA expected to range between $610 million and $670 million. The company continues to explore additional development opportunities in key markets such as Hawaii, Key West, and Santa Barbara.
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