United Parks & Resorts (NYSE:PRKS) Sees Unusually-High Trading Volume – Here’s Why

United Parks & Resorts Inc. (NYSE:PRKS) shares saw unusually-high trading volume on Tuesday . Approximately 2,188,474 shares changed hands during mid-day trading, an increase of 90% from the previous session’s volume of 1,153,427 shares.The stock last traded at $35.1160 and had previously closed at $35.77.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRKS. Truist Financial reduced their target price on shares of United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. Barclays cut their target price on United Parks & Resorts from $51.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Zacks Research raised shares of United Parks & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. JPMorgan Chase & Co. cut their price objective on shares of United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group decreased 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 report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.82.

United Parks & Resorts Stock Down 2.2%

The business’s 50 day simple moving average is $36.43 and its 200 day simple moving average is $44.29. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.51 and a beta of 1.27.

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

Insider Activity

In related news, insider Christopher L. Finazzo sold 7,200 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $35.12, for a total value of $252,864.00. Following the transaction, the insider owned 138,285 shares in the company, valued at approximately $4,856,569.20. This represents a 4.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its position in shares of United Parks & Resorts by 74.3% in the third quarter. CWM LLC now owns 495 shares of the company’s stock valued at $26,000 after buying an additional 211 shares in the last quarter. Quarry LP acquired a new position in United Parks & Resorts in the 3rd quarter valued at $28,000. Federated Hermes Inc. grew its holdings in shares of United Parks & Resorts by 114.0% during the 3rd quarter. Federated Hermes Inc. now owns 550 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of United Parks & Resorts during the 4th quarter worth $25,000. Finally, Neo Ivy Capital Management bought a new position in shares of United Parks & Resorts in the second quarter worth $123,000.

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.