Wolverine Asset Management LLC Has $827,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Wolverine Asset Management LLC increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 293.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,749 shares of the financial services provider’s stock after buying an additional 43,827 shares during the period. Wolverine Asset Management LLC’s holdings in Park Hotels & Resorts were worth $827,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PK. Harbor Capital Advisors Inc. bought a new stake in Park Hotels & Resorts during the 3rd quarter valued at $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,841 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after buying an additional 2,711 shares during the last quarter. KBC Group NV boosted its position in Park Hotels & Resorts by 34.4% during the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,882 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Park Hotels & Resorts during the third quarter worth about $116,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PK. Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group cut their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, UBS Group lowered their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts Trading Down 3.1 %

Shares of PK opened at $12.63 on Friday. The firm’s 50 day simple moving average is $13.77 and its 200 day simple moving average is $14.31. The company has a market capitalization of $2.61 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.51 and a beta of 2.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 1-year low of $12.52 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.92%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

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.