Goldentree Asset Management LP Acquires New Stake in United Parks & Resorts Inc. (NYSE:PRKS)

Goldentree Asset Management LP purchased a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,422,652 shares of the company's stock, valued at approximately $71,882,000. United Parks & Resorts makes up approximately 5.7% of Goldentree Asset Management LP's investment portfolio, making the stock its 4th biggest position. Goldentree Asset Management LP owned about 2.59% of United Parks & Resorts as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC bought a new position in shares of United Parks & Resorts during the third quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of United Parks & Resorts in the 3rd quarter worth approximately $28,000. Blue Trust Inc. bought a new position in United Parks & Resorts during the 3rd quarter valued at approximately $30,000. KBC Group NV purchased a new position in United Parks & Resorts during the third quarter valued at $54,000. Finally, Amalgamated Bank bought a new stake in United Parks & Resorts in the third quarter worth $65,000.

United Parks & Resorts Stock Performance

Shares of United Parks & Resorts stock traded up $0.57 during trading hours on Friday, hitting $58.64. The company's stock had a trading volume of 448,043 shares, compared to its average volume of 887,367. The business has a 50 day moving average price of $53.61 and a two-hundred day moving average price of $52.35. United Parks & Resorts Inc. has a 12-month low of $44.72 and a 12-month high of $60.36. The company has a market cap of $3.23 billion, a PE ratio of 14.70 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $2.08 EPS 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 analysts' expectations of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. United Parks & Resorts's quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS. As a group, research analysts anticipate that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider George Anthony Taylor sold 23,837 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total transaction of $1,261,930.78. Following the sale, the insider now directly owns 85,463 shares of the company's stock, valued at $4,524,411.22. This represents a 21.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yoshikazu Maruyama sold 12,984 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total transaction of $650,108.88. Following the completion of the transaction, the director now directly owns 41,766 shares of the company's stock, valued at approximately $2,091,223.62. This trade represents a 23.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRKS shares. Truist Financial raised their price target on United Parks & Resorts from $60.00 to $64.00 and gave the company a "buy" rating in a report on Friday, November 8th. Citigroup lifted their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, September 18th. Guggenheim cut their price target on shares of United Parks & Resorts from $72.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. The Goldman Sachs Group lowered shares of United Parks & Resorts from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $63.00 to $53.00 in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their target price on United Parks & Resorts from $57.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, United Parks & Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $62.60.

United Parks & Resorts Company Profile

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.