United Parks & Resorts (NYSE:PRKS) Stock Breaks Above Fifty Day Moving Average Following Weak Earnings

United Parks & Resorts Inc. (NYSE:PRKS – Get Free Report)’s stock price passed above its 50-day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a 50-day moving average of $34.52 and traded as high as $40.16. United Parks & Resorts shares last traded at $37.6880, with a volume of 1,327,536 shares changing hands.

The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.14). The firm had revenue of $506.45 million for the quarter, compared to analysts’ expectations of $511.03 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $1.61 earnings per share.

United Parks & Resorts News Roundup

Here are the key news stories impacting United Parks & Resorts this week:

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on United Parks & Resorts from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Truist Financial lowered their price target on United Parks & Resorts from $53.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Citigroup dropped their price objective on United Parks & Resorts from $49.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Zacks Research upgraded United Parks & Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Weiss Ratings downgraded United Parks & Resorts from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 30th. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.40.

Read Our Latest Stock Report on PRKS

Insider Activity at United Parks & Resorts

In related news, insider James Forrester, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $35.71, for a total transaction of $41,066.50. Following the completion of the sale, the insider directly owned 26,733 shares in the company, valued at approximately $954,635.43. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Wealth LLC grew its position in United Parks & Resorts by 4.0% in the first quarter. NewEdge Wealth LLC now owns 13,323 shares of the company’s stock worth $435,000 after acquiring an additional 509 shares during the period. Versant Capital Management Inc raised its position in United Parks & Resorts by 40.5% in the second quarter. Versant Capital Management Inc now owns 1,862 shares of the company’s stock valued at $89,000 after purchasing an additional 537 shares during the period. Rockefeller Capital Management L.P. raised its position in United Parks & Resorts by 183.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock valued at $31,000 after purchasing an additional 551 shares during the period. Royal Bank of Canada lifted its stake in shares of United Parks & Resorts by 27.3% in the 1st quarter. Royal Bank of Canada now owns 2,805 shares of the company’s stock valued at $92,000 after purchasing an additional 602 shares during the last quarter. Finally, Group One Trading LLC acquired a new position in shares of United Parks & Resorts in the 2nd quarter valued at $31,000.

United Parks & Resorts Trading Up 10.2%

The firm has a market capitalization of $1.71 billion, a PE ratio of 14.84, a PEG ratio of 3.21 and a beta of 1.22. The business has a fifty day moving average price of $34.52 and a two-hundred day moving average price of $38.05.

United Parks & Resorts Company Profile

(Get Free Report)

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of destination amusement and water parks in the United States. Its properties combine rides, live entertainment, animal exhibits, educational experiences, seasonal events and hospitality-related offerings.

The company’s portfolio includes SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Sesame Place parks in Pennsylvania and California; and water parks and attractions such as Aquatica, Adventure Island, Water Country USA and Discovery Cove.

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