United Parks & Resorts (NYSE:PRKS) Stock Price Down 4.5% – Should You Sell?

United Parks & Resorts Inc. (NYSE:PRKS)’s stock price dropped 4.5% during mid-day trading on Wednesday. The company traded as low as $30.54 and last traded at $30.3220. Approximately 148,182 shares traded hands during trading, a decline of 84% from the average daily volume of 924,624 shares. The stock had previously closed at $31.76.

Analyst Ratings Changes

Several research firms have commented on PRKS. Northcoast Research started coverage on shares of United Parks & Resorts in a research note on Wednesday, July 8th. They issued a “neutral” rating for the company. Barclays lifted their target price on United Parks & Resorts from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Guggenheim boosted their target price on United Parks & Resorts from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on United Parks & Resorts in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.40.

United Parks & Resorts Price Performance

The company has a market cap of $1.41 billion, a PE ratio of 12.01, a P/E/G ratio of 2.87 and a beta of 1.25. The business’s 50 day moving average is $36.90 and its 200-day moving average is $39.90.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The firm had revenue of $483.32 million during the quarter, compared to analysts’ expectations of $492.10 million. During the same period in the prior year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that United Parks & Resorts Inc. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christopher L. Finazzo sold 6,622 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the transaction, the insider owned 123,663 shares of the company’s stock, valued at $5,465,904.60. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James W. Forrester, Jr. sold 1,150 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total value of $41,066.50. Following the completion of the sale, the insider owned 26,733 shares in the company, valued at approximately $954,635.43. This represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Group One Trading LLC purchased a new position in shares of United Parks & Resorts in the 2nd quarter valued at about $31,000. Global Retirement Partners LLC purchased a new stake in United Parks & Resorts during the second quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its stake in United Parks & Resorts by 183.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock worth $31,000 after purchasing an additional 551 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in United Parks & Resorts during the second quarter worth approximately $53,000. Finally, Fortitude Family Office LLC boosted its holdings in United Parks & Resorts by 30,580.0% in the third quarter. Fortitude Family Office LLC now owns 1,534 shares of the company’s stock valued at $50,000 after purchasing an additional 1,529 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 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.