MetLife Investment Management LLC Invests $1.03 Million in United Parks & Resorts Inc. (NYSE:PRKS)

MetLife Investment Management LLC purchased a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,271 shares of the company's stock, valued at approximately $1,026,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. River Road Asset Management LLC acquired a new stake in shares of United Parks & Resorts in the 3rd quarter valued at about $66,841,000. Pinnacle Associates Ltd. purchased a new stake in United Parks & Resorts in the third quarter valued at approximately $37,679,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of United Parks & Resorts in the third quarter valued at approximately $27,850,000. Eagle Asset Management Inc. purchased a new position in shares of United Parks & Resorts during the third quarter worth approximately $21,959,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of United Parks & Resorts in the 3rd quarter valued at $20,898,000.

United Parks & Resorts Trading Up 0.2 %

Shares of NYSE:PRKS traded up $0.11 during midday trading on Friday, hitting $59.82. 439,165 shares of the stock were exchanged, compared to its average volume of 763,877. United Parks & Resorts Inc. has a twelve month low of $44.72 and a twelve month high of $60.83. The company has a 50 day moving average price of $54.47 and a 200-day moving average price of $52.59. The stock has a market cap of $3.29 billion, a P/E ratio of 14.99 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced 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). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business had revenue of $545.90 million during the quarter, compared to analysts' expectations of $550.47 million. During the same period last year, the company earned $1.92 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts expect that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup lifted their price objective 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. Guggenheim lowered their target price 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. JPMorgan Chase & Co. cut 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. Truist Financial lifted their price objective on United Parks & Resorts from $60.00 to $64.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Mizuho reissued an "underperform" rating and set a $43.00 target price (down from $45.00) on shares of United Parks & Resorts in a research note on Friday, November 8th. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.60.

Insider Activity

In related news, insider James Mikolaichik bought 34,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $57.29 per share, for a total transaction of $1,947,860.00. Following the completion of the acquisition, the insider now owns 76,267 shares in the company, valued at $4,369,336.43. This trade represents a 80.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

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.