Cannon Global Investment Management LLC Invests $632,000 in United Parks & Resorts Inc. (NYSE:PRKS)

Cannon Global Investment Management LLC bought a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,500 shares of the company's stock, valued at approximately $632,000. United Parks & Resorts comprises approximately 1.0% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also added to or reduced their stakes in the business. Pinnacle Associates Ltd. acquired a new stake in shares of United Parks & Resorts in the 3rd quarter valued at approximately $37,679,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in United Parks & Resorts in the third quarter valued at $27,850,000. Perpetual Ltd bought a new position in shares of United Parks & Resorts in the 3rd quarter valued at about $16,862,000. Raymond James & Associates acquired a new position in shares of United Parks & Resorts during the 3rd quarter worth about $4,487,000. Finally, Hunter Associates Investment Management LLC bought a new stake in shares of United Parks & Resorts in the 3rd quarter valued at about $1,359,000.

United Parks & Resorts Stock Performance

NYSE:PRKS traded down $0.06 during mid-day trading on Friday, reaching $52.57. 727,079 shares of the company's stock were exchanged, compared to its average volume of 743,517. The firm has a market capitalization of $3.05 billion, a PE ratio of 13.73 and a beta of 2.00. United Parks & Resorts Inc. has a one year low of $42.77 and a one year high of $60.36. The business's fifty day simple moving average is $51.21 and its two-hundred day simple moving average is $51.62.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.54 by ($0.08). The business had revenue of $497.60 million during the quarter, compared to analyst estimates of $503.93 million. United Parks & Resorts had a net margin of 14.06% and a negative return on equity of 92.07%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, equities research analysts forecast that United Parks & Resorts Inc. will post 4.23 EPS for the current year.

Insider Activity

In other United Parks & Resorts news, insider George Anthony Taylor sold 23,837 shares of the stock in a transaction dated 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 sale, the insider now directly owns 85,463 shares in the company, valued at $4,524,411.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Yoshikazu Maruyama sold 12,984 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 41,766 shares of the company's stock, valued at approximately $2,091,223.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider George Anthony Taylor sold 23,837 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $52.94, for a total value of $1,261,930.78. Following the completion of the sale, the insider now directly owns 85,463 shares in the company, valued at $4,524,411.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,366 shares of company stock worth $1,938,984. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRKS shares. Macquarie reduced their price target on United Parks & Resorts from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Friday, October 18th. The Goldman Sachs Group lowered United Parks & Resorts from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $63.00 to $53.00 in a report on Thursday, August 8th. Truist Financial cut their price target on United Parks & Resorts from $62.00 to $60.00 and set a "buy" rating for the company in a report on Monday, October 21st. Stifel Nicolaus decreased their price objective on shares of United Parks & Resorts from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, B. Riley restated a "buy" rating and set a $71.00 target price on shares of United Parks & Resorts in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.70.

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.