United Parks & Resorts (NYSE:PRKS – Free Report) had its price target lowered by Citigroup from $49.00 to $34.00 in a research report report published on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the stock.
Other analysts have also recently issued research reports about the stock. UBS Group reiterated a “neutral” rating and issued a $45.00 price objective on shares of United Parks & Resorts in a research note on Monday, June 15th. Barclays increased their target price on shares of United Parks & Resorts from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Mizuho set a $51.00 target price on shares of United Parks & Resorts in a report on Wednesday, August 5th. The Goldman Sachs Group lifted their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Truist Financial cut their price target on United Parks & Resorts from $53.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.40.
View Our Latest Report on United Parks & Resorts
United Parks & Resorts Price Performance
United Parks & Resorts (NYSE:PRKS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.33). The firm had revenue of $483.32 million for the quarter, compared to the consensus estimate of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. Equities analysts anticipate that United Parks & Resorts will post 2.85 earnings per share for the current fiscal year.
Insider Transactions at United Parks & Resorts
In other United Parks & Resorts news, insider Christopher Finazzo sold 6,622 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total value of $292,692.40. Following the transaction, the insider directly owned 123,663 shares of the company’s stock, valued at $5,465,904.60. This trade represents a 5.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Forrester, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total transaction of $41,066.50. Following the completion of the transaction, the insider owned 26,733 shares of the company’s stock, valued at $954,635.43. The trade was a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.70% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in PRKS. BlackRock Inc. acquired a new position in United Parks & Resorts during the second quarter valued at approximately $171,560,000. Hawk Ridge Capital Management LP bought a new position in shares of United Parks & Resorts in the 1st quarter valued at $51,094,000. Bank of America Corp DE bought a new position in shares of United Parks & Resorts in the 2nd quarter valued at $26,222,000. Engine Capital Management LP raised its holdings in shares of United Parks & Resorts by 96.2% during the 4th quarter. Engine Capital Management LP now owns 856,397 shares of the company’s stock worth $31,087,000 after buying an additional 420,000 shares in the last quarter. Finally, Invenomic Capital Management LP raised its holdings in shares of United Parks & Resorts by 624.8% during the 4th quarter. Invenomic Capital Management LP now owns 309,008 shares of the company’s stock worth $11,217,000 after buying an additional 266,375 shares in the last quarter.
United Parks & Resorts Company Profile
United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of parks and attractions in the United States. Its properties combine amusement rides, live entertainment, animal exhibits, educational experiences, and seasonal events for families and other guests.
The company’s principal brands include SeaWorld, Busch Gardens, Sesame Place, Discovery Cove, Aquatica, Adventure Island, and Water Country USA. Its parks offer roller coasters and other rides, water attractions, animal encounters, zoological presentations, dining, retail, and hospitality-related experiences.
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