Freestone Grove Partners LP Acquires Shares of 8,386 United Parks & Resorts Inc. (NYSE:PRKS)

Freestone Grove Partners LP bought a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 8,386 shares of the company’s stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in United Parks & Resorts by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company’s stock valued at $2,976,000 after acquiring an additional 258 shares during the last quarter. LPL Financial LLC raised its holdings in shares of United Parks & Resorts by 7.0% in the 4th quarter. LPL Financial LLC now owns 5,316 shares of the company’s stock worth $299,000 after purchasing an additional 350 shares during the period. KBC Group NV lifted its stake in United Parks & Resorts by 60.2% in the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after purchasing an additional 638 shares during the last quarter. Cannon Global Investment Management LLC grew its holdings in United Parks & Resorts by 5.9% during the fourth quarter. Cannon Global Investment Management LLC now owns 13,235 shares of the company’s stock valued at $744,000 after purchasing an additional 735 shares during the period. Finally, Victory Capital Management Inc. increased its position in United Parks & Resorts by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 16,283 shares of the company’s stock worth $915,000 after buying an additional 1,021 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRKS shares. Macquarie cut their price target on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Barclays initiated coverage on shares of United Parks & Resorts in a research report on Friday, March 14th. They set an “equal weight” rating and a $50.00 target price for the company. Truist Financial lowered their price target on shares of United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus cut their price objective on shares of United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Guggenheim boosted their target price on shares of United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, United Parks & Resorts currently has a consensus rating of “Hold” and a consensus price target of $58.50.

Insider Activity

In related news, insider Byron Surrett sold 7,008 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $48.90, for a total value of $342,691.20. Following the sale, the insider now directly owns 11,050 shares of the company’s stock, valued at $540,345. This trade represents a 38.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

United Parks & Resorts Stock Performance

NYSE:PRKS opened at $46.00 on Friday. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 11.53 and a beta of 1.61. The stock has a fifty day moving average of $45.89 and a 200 day moving average of $51.83. United Parks & Resorts Inc. has a 52-week low of $37.68 and a 52-week high of $60.83.

United Parks & Resorts Company Profile

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.