Park Hotels & Resorts (NYSE:PK – Get Free Report) had its price objective dropped by equities researchers at Evercore ISI from $20.00 to $19.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price would suggest a potential upside of 37.68% from the company’s current price.
Several other equities research analysts have also recently commented on PK. Barclays increased their price target on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, May 24th. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Wedbush reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Finally, Truist Financial lowered their price objective on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Seven research 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, the stock has an average rating of “Hold” and a consensus price target of $17.75.
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Park Hotels & Resorts Price Performance
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of PK. Fidelis Capital Partners LLC purchased a new position in Park Hotels & Resorts in the first quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new position in Park Hotels & Resorts in the fourth quarter valued at $35,000. YHB Investment Advisors Inc. purchased a new position in Park Hotels & Resorts in the first quarter valued at $40,000. FinTrust Capital Advisors LLC boosted its holdings in Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 3,668 shares during the period. Finally, Signaturefd LLC boosted its holdings 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 valued at $98,000 after purchasing an additional 727 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Park Hotels & Resorts Company 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.
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