Wolverine Asset Management LLC Boosts Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Wolverine Asset Management LLC grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 293.7% during the 4th quarter, HoldingsChannel reports. The fund owned 58,749 shares of the financial services provider’s stock after acquiring an additional 43,827 shares during the quarter. Wolverine Asset Management LLC’s holdings in Park Hotels & Resorts were worth $827,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Donald Smith & CO. Inc. grew 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 purchasing an additional 1,484,295 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 worth $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after purchasing an additional 66,093 shares during the last quarter. Private Management Group Inc. grew its holdings in shares of Park Hotels & Resorts by 2.0% in the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider’s stock worth $31,937,000 after purchasing an additional 44,606 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Park Hotels & Resorts by 1.2% in the third quarter. Los Angeles Capital Management LLC now owns 2,046,671 shares of the financial services provider’s stock worth $28,858,000 after purchasing an additional 24,325 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $12.63 on Friday. Park Hotels & Resorts Inc. has a 12 month low of $12.52 and a 12 month high of $18.05. The stock has a market cap of $2.61 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company’s fifty day moving average price is $13.77 and its 200-day moving average price is $14.31.

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

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. 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 is presently 99.01%.

Wall Street Analysts Forecast Growth

PK has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. UBS Group cut 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. Wells Fargo & Company cut 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. Compass Point cut their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.15.

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.