318,724 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Bought by Bamco Inc. NY

Bamco Inc. NY acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 318,724 shares of the financial services provider’s stock, valued at approximately $5,574,000. Bamco Inc. NY owned about 0.15% of Park Hotels & Resorts at the end of the most recent reporting period.

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

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock traded up $0.20 during trading on Monday, hitting $15.13. The stock had a trading volume of 952,548 shares, 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. The firm has a market cap of $3.19 billion, a P/E ratio of 33.93, a PEG ratio of 0.73 and a beta of 2.03. The business has a fifty day moving average of $15.07 and a two-hundred day moving average of $15.91. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results 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). Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. The company had revenue of $639.00 million for the quarter, compared to analysts’ expectations of $630.46 million. On average, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PK. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $20.00 in a research note on Wednesday, May 15th. Barclays increased their price target 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. Truist Financial decreased their price target on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Wedbush reissued a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.