Epoch Investment Partners Inc. Acquires 801,372 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Epoch Investment Partners Inc. raised its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 135.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,391,881 shares of the financial services provider’s stock after purchasing an additional 801,372 shares during the quarter. Epoch Investment Partners Inc. owned 0.66% of Park Hotels & Resorts worth $24,344,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Park Hotels & Resorts by 74.0% during the fourth quarter. Pacer Advisors Inc. now owns 31,566 shares of the financial services provider’s stock valued at $483,000 after buying an additional 13,428 shares during the period. Oak Thistle LLC bought a new position in Park Hotels & Resorts in the fourth quarter worth $435,000. International Assets Investment Management LLC raised its holdings in Park Hotels & Resorts by 1,826.1% in the fourth quarter. International Assets Investment Management LLC now owns 29,759 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 28,214 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 16.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 155,663 shares of the financial services provider’s stock valued at $2,382,000 after acquiring an additional 22,335 shares in the last quarter. Finally, Wakefield Asset Management LLLP bought a new position in shares of Park Hotels & Resorts during the fourth quarter valued at $841,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 2.8 %

Shares of NYSE PK traded up $0.41 during trading on Friday, reaching $14.93. The stock had a trading volume of 2,695,700 shares, compared to its average volume of 2,457,191. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05. The company has a market cap of $3.14 billion, a P/E ratio of 33.93, a PEG ratio of 0.72 and a beta of 2.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The business’s 50-day moving average price is $15.07 and its 200-day moving average price is $15.91.

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

Analysts Set New Price Targets

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