Geode Capital Management LLC Invests $37.47 Million in United Parks & Resorts Inc. (NYSE:PRKS)

Geode Capital Management LLC acquired a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 740,430 shares of the company's stock, valued at approximately $37,472,000. Geode Capital Management LLC owned approximately 1.35% of United Parks & Resorts at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Hill Path Capital LP bought a new stake in United Parks & Resorts during the 3rd quarter worth approximately $1,376,588,000. Eagle Asset Management Inc. acquired a new stake in United Parks & Resorts in the 3rd quarter valued at about $21,959,000. Quest Partners LLC acquired a new position in shares of United Parks & Resorts during the third quarter worth approximately $448,000. Goldentree Asset Management LP acquired a new stake in shares of United Parks & Resorts in the third quarter valued at approximately $71,882,000. Finally, Simcoe Capital Management LLC bought a new position in United Parks & Resorts in the 3rd quarter worth approximately $110,983,000.

Wall Street Analysts Forecast Growth

PRKS has been the subject of a number of recent research reports. B. Riley restated a "buy" rating and set a $71.00 target price on shares of United Parks & Resorts in a research report on Monday, October 7th. JPMorgan Chase & Co. cut their price objective on shares of United Parks & Resorts from $57.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Macquarie reduced their price objective on shares of United Parks & Resorts from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Citigroup upped their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, September 18th. Finally, Truist Financial raised their price target on United Parks & Resorts from $60.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.60.

Insider Buying and Selling at United Parks & Resorts

In related news, insider James Mikolaichik acquired 34,000 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the acquisition, the insider now directly 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher L. Finazzo sold 13,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.62, for a total value of $723,060.00. Following the sale, the insider now owns 132,439 shares in the company, valued at $7,366,257.18. The trade was a 8.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

United Parks & Resorts Stock Up 0.7 %

Shares of NYSE:PRKS traded up $0.39 during midday trading on Wednesday, reaching $54.50. 196,338 shares of the company were exchanged, compared to its average volume of 870,199. The firm has a market cap of $3.00 billion, a PE ratio of 13.66 and a beta of 2.00. United Parks & Resorts Inc. has a fifty-two week low of $44.72 and a fifty-two week high of $60.83. The stock has a fifty day simple moving average of $55.86 and a two-hundred day simple moving average of $52.98.

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 (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). The firm had revenue of $545.90 million during the quarter, compared to analyst estimates of $550.47 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 EPS. As a group, analysts forecast that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

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.