Entropy Technologies LP Takes Position in Park Hotels & Resorts Inc. (NYSE:PK)

Entropy Technologies LP bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,530 shares of the financial services provider’s stock, valued at approximately $612,000.

A number of other large investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its holdings in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Park Hotels & Resorts by 321.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after acquiring an additional 1,075,255 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Park Hotels & Resorts by 345.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock worth $14,595,000 after acquiring an additional 802,939 shares in the last quarter. Foundry Partners LLC purchased a new position in Park Hotels & Resorts in the third quarter valued at about $9,238,000. Finally, JPMorgan Chase & Co. boosted its holdings in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PK shares. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Bank of America cut their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Jefferies Financial Group decreased their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group cut their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Compass Point decreased their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus price target of $18.45.

Park Hotels & Resorts Price Performance

PK opened at $12.95 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $14.26 and its 200 day moving average price is $14.41. Park Hotels & Resorts Inc. has a fifty-two week low of $12.73 and a fifty-two week high of $18.05. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 8.25 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.65 dividend. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.60 annualized dividend and a dividend yield of 20.08%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.