ABS Direct Equity Fund LLC Takes Position in United Parks & Resorts Inc. (NYSE:PRKS)

ABS Direct Equity Fund LLC purchased a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 70,000 shares of the company's stock, valued at approximately $3,542,000. United Parks & Resorts makes up 3.9% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 8th largest holding. ABS Direct Equity Fund LLC owned 0.13% of United Parks & Resorts at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hexagon Capital Partners LLC bought a new position in United Parks & Resorts in the third quarter valued at approximately $25,000. Exchange Traded Concepts LLC bought a new position in United Parks & Resorts in the third quarter valued at approximately $28,000. Blue Trust Inc. bought a new position in United Parks & Resorts in the third quarter valued at approximately $30,000. Public Employees Retirement System of Ohio bought a new position in United Parks & Resorts in the third quarter valued at approximately $32,000. Finally, KBC Group NV bought a new position in United Parks & Resorts in the third quarter valued at approximately $54,000.

Insiders Place Their Bets

In other news, insider James Mikolaichik purchased 34,000 shares of United Parks & Resorts stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the transaction, the insider now owns 76,267 shares of the company's stock, valued at approximately $4,369,336.43. The trade was a 80.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.

United Parks & Resorts Stock Down 0.4 %

Shares of PRKS stock traded down $0.20 on Tuesday, reaching $56.94. The stock had a trading volume of 364,349 shares, compared to its average volume of 879,576. The firm's 50-day moving average is $54.75 and its two-hundred day moving average is $52.70. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 14.27 and a beta of 2.00. United Parks & Resorts Inc. has a 12 month low of $44.72 and a 12 month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.15). The company had revenue of $545.90 million during the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The firm's revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 earnings per share. On average, sell-side analysts forecast that United Parks & Resorts Inc. will post 3.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PRKS. Truist Financial lifted their price target on shares of United Parks & Resorts from $60.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of United Parks & Resorts from $57.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Mizuho reissued an "underperform" rating and issued a $43.00 price target (down previously from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. Guggenheim decreased their price target on shares of United Parks & Resorts from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Finally, Macquarie decreased their price target on shares of United Parks & Resorts from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.60.

About United Parks & Resorts

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.