United Parks & Resorts (NYSE:PRKS) Insider Sells $252,864.00 in Stock

United Parks & Resorts Inc. (NYSE:PRKS) insider Christopher Finazzo sold 7,200 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $35.12, for a total transaction of $252,864.00. Following the completion of the transaction, the insider owned 138,285 shares of the company’s stock, valued at approximately $4,856,569.20. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

United Parks & Resorts Stock Down 0.4%

NYSE:PRKS opened at $34.69 on Friday. United Parks & Resorts Inc. has a 52 week low of $29.62 and a 52 week high of $60.63. The stock’s 50-day moving average price is $40.31 and its 200-day moving average price is $46.23. The stock has a market capitalization of $1.89 billion, a PE ratio of 10.61 and a beta of 1.30.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). The business had revenue of $511.85 million during the quarter, compared to analyst estimates of $540.43 million. United Parks & Resorts had a negative return on equity of 44.47% and a net margin of 10.83%.The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. Sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts declared that its Board of Directors has authorized a stock buyback program on Friday, September 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in United Parks & Resorts by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 426,088 shares of the company’s stock worth $19,370,000 after buying an additional 2,523 shares in the last quarter. Invesco Ltd. raised its holdings in shares of United Parks & Resorts by 31.0% during the 1st quarter. Invesco Ltd. now owns 73,148 shares of the company’s stock worth $3,325,000 after acquiring an additional 17,291 shares during the period. Nuveen LLC purchased a new position in shares of United Parks & Resorts during the 1st quarter worth $6,191,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Parks & Resorts during the 1st quarter valued at about $31,000. Finally, Raymond James Financial Inc. grew its holdings in shares of United Parks & Resorts by 1.2% in the first quarter. Raymond James Financial Inc. now owns 545,638 shares of the company’s stock valued at $24,805,000 after purchasing an additional 6,544 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently commented on PRKS shares. Mizuho cut their price target on shares of United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday, November 12th. The Goldman Sachs Group cut their target price on shares of United Parks & Resorts from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Zacks Research lowered shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Truist Financial lowered their price objective on United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, December 4th. Finally, Barclays reduced their target price on United Parks & Resorts from $51.00 to $39.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.82.

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.