United Parks & Resorts (NYSE:PRKS) Shares Break Above 50 Day Moving Average on Disappointing Earnings

Shares of United Parks & Resorts Inc. (NYSE:PRKS – Get Free Report) passed above its fifty day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a fifty 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 trading hands.

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

More United Parks & Resorts News

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

Analysts Set New Price Targets

Several analysts recently weighed in on PRKS shares. Zacks Research upgraded shares of United Parks & Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Barclays upped their price target on United Parks & Resorts from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Mizuho set a $51.00 price target on United Parks & Resorts in a research report on Wednesday, August 5th. Truist Financial dropped their price objective on United Parks & Resorts from $53.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Finally, Citigroup cut 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. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.40.

Get Our Latest Research Report on PRKS

Insider Buying and Selling at United Parks & Resorts

In related news, insider James Forrester, Jr. sold 1,150 shares of United Parks & Resorts stock in a transaction that occurred 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 transaction, the insider 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 SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds have recently added to or reduced their stakes in PRKS. Group One Trading LLC acquired a new position in shares of United Parks & Resorts in the second quarter worth $31,000. Global Retirement Partners LLC purchased a new stake in shares of United Parks & Resorts during the second quarter worth $31,000. Rockefeller Capital Management L.P. raised its stake in shares of 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 acquiring an additional 551 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of United Parks & Resorts in the second quarter valued at $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 during the period.

United Parks & Resorts Stock Up 10.2%

The stock has a market capitalization of $1.71 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22. The stock has a fifty day moving average of $34.52 and a 200-day moving average 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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