Key Points
- Insider James Forrester, Jr. sold 1,150 PRKS shares for approximately $41,067, reducing his direct ownership by 4.12% to 26,733 shares.
- United Parks & Resorts shares opened at $35.73, well below their 50-day average of $43.29; the company recently missed quarterly earnings and revenue estimates, reporting $1.34 EPS and $483.32 million in revenue.
- Analysts maintain a consensus “Hold” rating with a $46.90 price target, while several institutional investors—including BlackRock—have recently established or increased positions.
United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) insider James Forrester, Jr. sold 1,150 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $35.71, for a total value of $41,066.50. Following the sale, the insider directly owned 26,733 shares of the company's stock, valued at approximately $954,635.43. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
United Parks & Resorts Stock Down 1.1%
Shares of NYSE:PRKS opened at $35.73 on Friday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 3.40 and a beta of 1.14. The firm's 50-day simple moving average is $43.29 and its 200-day simple moving average is $39.86. United Parks & Resorts Inc. has a fifty-two week low of $28.77 and a fifty-two week high of $55.71.
United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.33). The firm had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. United Parks & Resorts's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. On average, research analysts forecast that United Parks & Resorts Inc. will post 2.85 EPS for the current year.
Hedge Funds Weigh In On United Parks & Resorts
Several institutional investors and hedge funds have recently modified their holdings of PRKS. BlackRock Inc. purchased a new stake in United Parks & Resorts in the 2nd quarter worth approximately $171,560,000. Hawk Ridge Capital Management LP acquired a new position in United Parks & Resorts during the first quarter worth approximately $51,094,000. Bank of America Corp DE purchased a new position in United Parks & Resorts during the second quarter worth approximately $26,222,000. Engine Capital Management LP boosted its holdings in shares of United Parks & Resorts by 96.2% in the 4th quarter. Engine Capital Management LP now owns 856,397 shares of the company's stock valued at $31,087,000 after purchasing an additional 420,000 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in shares of United Parks & Resorts by 624.8% in the 4th quarter. Invenomic Capital Management LP now owns 309,008 shares of the company's stock valued at $11,217,000 after purchasing an additional 266,375 shares during the last quarter.
Analyst Ratings Changes
PRKS has been the topic of several research reports. Mizuho set a $51.00 target price on United Parks & Resorts in a report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of United Parks & Resorts from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Citigroup lifted their price objective on United Parks & Resorts from $46.00 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group increased their target price on United Parks & Resorts from $37.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Guggenheim upped their price objective on United Parks & Resorts from $51.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.90.
Check Out Our Latest Stock Report on PRKS
United Parks & Resorts Company Profile
(
Get Free Report)
United Parks & Resorts Inc (NYSE: PRKS) is a U.S.-based theme park and entertainment company that owns and operates a portfolio of parks featuring thrill rides, water attractions, live entertainment, animal exhibits and educational experiences. Its brands include SeaWorld, Busch Gardens, Discovery Cove, Sesame Place, Aquatica, Adventure Island and Water Country USA.
The company operates parks in Florida, Texas, Virginia, California and Pennsylvania. Its properties include SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Discovery Cove in Orlando; Sesame Place parks in Pennsylvania and California; Aquatica water parks in Orlando and San Antonio; Adventure Island in Tampa; and Water Country USA in Williamsburg.
United Parks & Resorts traces its history to SeaWorld Entertainment, which became a publicly traded company in 2013.
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