Entropy Technologies LP Makes New $612,000 Investment in Park Hotels & Resorts Inc. (NYSE:PK)

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

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

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $12.95 on Wednesday. The company 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 Inc. has a 12 month low of $12.73 and a 12 month high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s 50-day moving average is $14.26 and its 200-day moving average is $14.41.

Park Hotels & Resorts Increases Dividend

The firm 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 a positive change 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 yield of 20.08%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 63.69%.

Wall Street Analyst Weigh In

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

Park Hotels & Resorts 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.