United Parks & Resorts (NYSE:PRKS) Stock Price Up 4.5% Following Analyst Upgrade

United Parks & Resorts Inc. (NYSE:PRKS) was up 4.5% on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $34.07 and last traded at $34.1250. 91,131 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 933,916 shares. The stock had previously closed at $32.67.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings raised shares of United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of United Parks & Resorts from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Truist Financial cut their price objective on shares of 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 reduced their target price on shares of United Parks & Resorts from $49.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, Guggenheim boosted their target price on shares of United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.40.

Insider Buying and Selling

In other United Parks & Resorts news, insider James W. Forrester, Jr. sold 1,150 shares of United Parks & Resorts stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher L. Finazzo sold 6,622 shares of United Parks & Resorts stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $44.20, for a total value of $292,692.40. Following the sale, the insider directly owned 123,663 shares in the company, valued at $5,465,904.60. The trade was a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in United Parks & Resorts in the second quarter worth about $171,560,000. River Road Asset Management LLC grew its position in United Parks & Resorts by 3.8% in the 4th quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company’s stock valued at $74,645,000 after buying an additional 74,392 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new position in United Parks & Resorts during the 1st quarter valued at about $51,094,000. Engine Capital Management LP increased its stake in United Parks & Resorts by 20.8% during the 1st quarter. Engine Capital Management LP now owns 1,034,414 shares of the company’s stock valued at $33,784,000 after buying an additional 178,017 shares during the period. Finally, Bank of America Corp DE acquired a new position in United Parks & Resorts during the 2nd quarter valued at about $26,222,000.

United Parks & Resorts Trading Up 0.4%

The company has a market capitalization of $1.54 billion, a P/E ratio of 13.34, a P/E/G ratio of 3.17 and a beta of 1.25. The business’s 50-day simple moving average is $38.69 and its 200 day simple moving average is $39.91.

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

About United Parks & Resorts

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.