Bamco Inc. NY Acquires Shares of 318,724 Park Hotels & Resorts Inc. (NYSE:PK)

Bamco Inc. NY acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the 1st quarter, Holdings Channel.com reports. The fund acquired 318,724 shares of the financial services provider’s stock, valued at approximately $5,574,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Park Hotels & Resorts by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,390 shares of the financial services provider’s stock valued at $1,756,000 after acquiring an additional 6,067 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Park Hotels & Resorts by 5.5% in the 1st quarter. Lazard Asset Management LLC now owns 36,704 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 1,922 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Park Hotels & Resorts by 135.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after purchasing an additional 801,372 shares during the last quarter. EntryPoint Capital LLC increased its stake in shares of Park Hotels & Resorts by 53.5% in the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 2,260 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Park Hotels & Resorts by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 380,641 shares of the financial services provider’s stock valued at $6,648,000 after purchasing an additional 16,572 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK traded up $0.20 during trading on Monday, hitting $15.13. 952,548 shares of the company were exchanged, compared to its average volume of 2,709,529. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. Park Hotels & Resorts Inc. has a 52-week low of $11.05 and a 52-week high of $18.05. The company has a market cap of $3.19 billion, a PE ratio of 33.93, a P/E/G ratio of 0.73 and a beta of 2.03. The stock has a 50 day moving average of $15.07 and a 200 day moving average of $15.91.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). The firm had revenue of $639.00 million during the quarter, compared to the consensus estimate of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. As a group, equities research analysts predict that Park Hotels & Resorts Inc. will post 2.1 EPS for the current year.

Analysts Set New Price Targets

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

Park Hotels & Resorts Profile

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.