Natixis Cuts Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Natixis reduced its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 56.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 105,900 shares of the financial services provider’s stock after selling 135,200 shares during the quarter. Natixis owned 0.05% of Park Hotels & Resorts worth $1,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 6.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 6,955,362 shares of the financial services provider’s stock worth $121,649,000 after buying an additional 425,696 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Park Hotels & Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider’s stock valued at $41,945,000 after acquiring an additional 13,473 shares during the period. Los Angeles Capital Management LLC raised its stake in Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after acquiring an additional 1,809,886 shares during the period. Norges Bank bought a new stake in Park Hotels & Resorts in the 4th quarter valued at about $31,745,000. Finally, Allianz Asset Management GmbH increased its position in shares of Park Hotels & Resorts by 10.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,794,528 shares of the financial services provider’s stock valued at $27,456,000 after buying an additional 166,152 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PK has been the topic of several analyst reports. 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 report on Thursday, May 30th. Barclays upped their price target on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Wedbush reissued a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Finally, Evercore ISI raised 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 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 company’s stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus price target of $17.83.

Park Hotels & Resorts Price Performance

PK traded up $0.06 during midday trading on Thursday, hitting $14.52. The stock had a trading volume of 4,443,822 shares, compared to its average volume of 2,722,642. The company has a market cap of $3.06 billion, a P/E ratio of 32.86, a price-to-earnings-growth ratio of 0.73 and a beta of 2.03. The business has a fifty day moving average of $15.13 and a 200 day moving average of $15.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results 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 firm had revenue of $639.00 million during the quarter, compared to analysts’ expectations of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. As a group, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

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.