CANADA LIFE ASSURANCE Co Buys 16,572 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

CANADA LIFE ASSURANCE Co raised its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,641 shares of the financial services provider’s stock after purchasing an additional 16,572 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.18% of Park Hotels & Resorts worth $6,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fidelis Capital Partners LLC bought a new stake in Park Hotels & Resorts in the first quarter worth about $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at $35,000. YHB Investment Advisors Inc. purchased a new position in shares of Park Hotels & Resorts during the 1st quarter valued at $40,000. FinTrust Capital Advisors LLC grew its stake in shares of Park Hotels & Resorts by 260.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 3,668 shares during the period. Finally, Signaturefd LLC increased its holdings in Park Hotels & Resorts by 12.7% in the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 727 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

PK stock opened at $14.93 on Friday. The firm has a 50-day moving average of $15.07 and a 200 day moving average of $15.91. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $3.14 billion, a P/E ratio of 33.92, a PEG ratio of 0.70 and a beta of 2.03. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.17). The firm had revenue of $639.00 million for the quarter, compared to analysts’ expectations of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. On average, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wedbush restated a “neutral” rating and set a $17.00 target price on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Truist Financial decreased their price target on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $20.00 in a research note on Wednesday, May 15th. Barclays raised their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.83.

About Park Hotels & Resorts

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.