Key Points
- Insider sale: United Parks & Resorts insider Christopher Finazzo sold 8,000 shares on May 22 at an average price of $36.76, totaling $294,080. After the sale, he still owned 130,285 shares.
- Recent earnings missed estimates: The company reported quarterly EPS of ($0.69), worse than analyst expectations of ($0.36), while revenue of $278.29 million was slightly below forecasts. Revenue also fell 3% from the same quarter last year.
- Wall Street remains mixed: Analysts currently have an average Hold rating on PRKS with a consensus price target of $47.20. Recent moves included Mizuho upgrading the stock to Outperform, while others maintained buy or sell views.
United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) insider Christopher Finazzo sold 8,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.76, for a total transaction of $294,080.00. Following the transaction, the insider owned 130,285 shares of the company's stock, valued at approximately $4,789,276.60. This represents a 5.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
United Parks & Resorts Stock Performance
Shares of NYSE PRKS opened at $45.17 on Friday. The stock has a market cap of $2.13 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.65 and a beta of 1.17. The firm has a 50 day moving average price of $37.25 and a 200 day moving average price of $35.91. United Parks & Resorts Inc. has a 52-week low of $28.77 and a 52-week high of $56.95.
United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.33). The firm had revenue of $278.29 million for the quarter, compared to analyst estimates of $279.92 million. United Parks & Resorts had a net margin of 9.09% and a negative return on equity of 35.46%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS. Analysts predict that United Parks & Resorts Inc. will post 3.41 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently issued reports on PRKS shares. Mizuho upgraded shares of United Parks & Resorts from an "underperform" rating to an "outperform" rating and boosted their price objective for the company from $27.00 to $47.00 in a report on Friday, May 8th. Guggenheim decreased their price objective on shares of United Parks & Resorts from $56.00 to $54.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of United Parks & Resorts from $63.00 to $54.00 and set a "buy" rating for the company in a report on Friday, April 10th. Truist Financial boosted their price objective on shares of United Parks & Resorts from $47.00 to $53.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of United Parks & Resorts in a report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.20.
Get Our Latest Report on PRKS
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in PRKS. AQR Capital Management LLC boosted its holdings in shares of United Parks & Resorts by 11.7% in the first quarter. AQR Capital Management LLC now owns 12,220 shares of the company's stock valued at $556,000 after buying an additional 1,282 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of United Parks & Resorts by 58.9% in the first quarter. Goldman Sachs Group Inc. now owns 678,813 shares of the company's stock valued at $30,859,000 after buying an additional 251,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of United Parks & Resorts by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,317 shares of the company's stock valued at $4,651,000 after buying an additional 3,047 shares during the period. Prudential Financial Inc. acquired a new position in shares of United Parks & Resorts in the second quarter valued at approximately $208,000. Finally, Invesco Ltd. boosted its holdings in shares of United Parks & Resorts by 5.8% in the second quarter. Invesco Ltd. now owns 77,357 shares of the company's stock valued at $3,647,000 after buying an additional 4,209 shares during the period.
United Parks & Resorts Company Profile
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Get Free Report)
United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.
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