Guggenheim Forecasts Strong Price Appreciation for United Parks & Resorts (NYSE:PRKS) Stock

United Parks & Resorts (NYSE:PRKS - Free Report) had its price target boosted by Guggenheim from $70.00 to $72.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on PRKS. Truist Financial increased their price target on United Parks & Resorts from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Mizuho upped their price objective on United Parks & Resorts from $43.00 to $45.00 and gave the company an "underperform" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, United Parks & Resorts presently has an average rating of "Moderate Buy" and an average target price of $63.00.

United Parks & Resorts Stock Up 0.6 %

PRKS stock traded up $0.30 during midday trading on Thursday, reaching $50.80. 730,952 shares of the company's stock traded hands, compared to its average volume of 922,193. United Parks & Resorts has a 52 week low of $44.72 and a 52 week high of $60.83. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 12.73 and a beta of 1.99. The firm's fifty day moving average price is $53.81 and its 200-day moving average price is $53.42.

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Insiders Place Their Bets

In other news, insider Christopher L. Finazzo sold 13,000 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.62, for a total transaction of $723,060.00. Following the completion of the transaction, the insider now owns 132,439 shares of the company's stock, valued at approximately $7,366,257.18. The trade was a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On United Parks & Resorts

Several hedge funds have recently bought and sold shares of PRKS. Hill Path Capital LP purchased a new stake in shares of United Parks & Resorts during the 3rd quarter valued at $1,376,588,000. Simcoe Capital Management LLC bought a new stake in United Parks & Resorts during the 3rd quarter valued at $110,983,000. Goldentree Asset Management LP purchased a new stake in United Parks & Resorts during the 3rd quarter valued at $71,882,000. River Road Asset Management LLC purchased a new position in shares of United Parks & Resorts during the 3rd quarter worth approximately $66,841,000. Finally, HG Vora Capital Management LLC bought a new position in shares of United Parks & Resorts in the 3rd quarter worth approximately $65,780,000.

About United Parks & Resorts

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.