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

Epoch Investment Partners Inc. boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 135.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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.’s holdings in Park Hotels & Resorts were worth $24,344,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its position in Park Hotels & Resorts by 0.3% in the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after purchasing an additional 693 shares during the last quarter. Signaturefd LLC boosted its position in Park Hotels & Resorts by 12.7% in the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 727 shares during the last quarter. Truist Financial Corp boosted its position in Park Hotels & Resorts by 3.8% in the fourth quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 816 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Park Hotels & Resorts by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 920 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 1,100 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PK shares. Barclays boosted their price objective 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. Truist Financial decreased their price objective 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. Wedbush reiterated a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a research note 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 research note on Wednesday, May 15th. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.83.

Park Hotels & Resorts Price Performance

Shares of PK traded up $0.41 during midday 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. The company’s 50-day moving average is $15.07 and its 200 day moving average is $15.91. Park Hotels & Resorts Inc. has a 12-month low of $11.05 and a 12-month high of $18.05. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 0.72 and a beta of 2.03.

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

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.