Sei Investments Co. Acquires 79,657 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Sei Investments Co. raised its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 19.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 486,590 shares of the financial services provider’s stock after buying an additional 79,657 shares during the period. Sei Investments Co.’s holdings in Park Hotels & Resorts were worth $7,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. lifted its stake in shares of Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after buying an additional 1,925,850 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 601.1% during the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after acquiring an additional 1,809,886 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Park Hotels & Resorts by 15,714.0% during the first quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after acquiring an additional 1,292,792 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Park Hotels & Resorts by 135.7% during the first quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock worth $24,344,000 after purchasing an additional 801,372 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Park Hotels & Resorts during the fourth quarter worth approximately $9,180,000. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PK has been the topic of a number of research reports. Truist Financial decreased their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Evercore ISI lowered their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday. UBS Group decreased their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $17.05.

Park Hotels & Resorts Trading Up 0.3 %

Shares of PK stock opened at $14.81 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $3.09 billion, a P/E ratio of 33.66, a P/E/G ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05. The stock’s fifty day simple moving average is $14.56 and its 200 day simple moving average is $15.48.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. The firm had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.75%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.

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.