Hill Path Capital LP Makes New $1.38 Billion Investment in United Parks & Resorts Inc. (NYSE:PRKS)

Hill Path Capital LP 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 & Exchange Commission. The fund acquired 27,205,306 shares of the company's stock, valued at approximately $1,376,588,000. United Parks & Resorts accounts for about 72.7% of Hill Path Capital LP's holdings, making the stock its biggest position. Hill Path Capital LP owned 49.46% of United Parks & Resorts at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PRKS. SG Americas Securities LLC purchased a new position in United Parks & Resorts in the 3rd quarter worth approximately $739,000. Handelsbanken Fonder AB purchased a new position in shares of United Parks & Resorts in the third quarter valued at $390,000. Hexagon Capital Partners LLC purchased a new stake in United Parks & Resorts during the 3rd quarter worth $25,000. Perpetual Ltd acquired a new position in United Parks & Resorts in the 3rd quarter worth $16,862,000. Finally, Inspire Investing LLC purchased a new position in United Parks & Resorts in the 3rd quarter valued at about $411,000.

United Parks & Resorts Stock Down 1.8 %

Shares of NYSE PRKS traded down $1.11 during trading hours on Tuesday, hitting $59.18. The company had a trading volume of 520,644 shares, compared to its average volume of 887,737. The stock has a market capitalization of $3.25 billion, a P/E ratio of 14.83 and a beta of 2.00. The firm's 50 day moving average is $53.79 and its 200-day moving average is $52.39. United Parks & Resorts Inc. has a 1-year low of $44.72 and a 1-year high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing analysts' consensus estimates 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 quarterly 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 predict that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

Analysts Set New Price Targets

PRKS has been the topic of several recent analyst reports. Truist Financial boosted their price target on United Parks & Resorts from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Guggenheim dropped their price objective on shares of United Parks & Resorts from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Macquarie lowered 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 research report on Friday, October 18th. Mizuho restated an "underperform" rating and set a $43.00 price objective (down from $45.00) on shares of United Parks & Resorts in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on United Parks & Resorts from $76.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, United Parks & Resorts has a consensus rating of "Moderate Buy" and an average price target of $62.60.

Insider Buying and Selling

In other United Parks & Resorts news, insider James Mikolaichik purchased 34,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $57.29 per share, for a total transaction of $1,947,860.00. Following the purchase, the insider now owns 76,267 shares of the company's stock, valued at $4,369,336.43. This represents a 80.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider George Anthony Taylor sold 23,837 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $52.94, for a total transaction of $1,261,930.78. Following the completion of the transaction, the insider now directly owns 85,463 shares of the company's stock, valued at approximately $4,524,411.22. The trade was a 21.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

United Parks & Resorts 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.