River Road Asset Management LLC Acquires New Stake in United Parks & Resorts Inc. (NYSE:PRKS)

River Road Asset Management LLC bought a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,320,966 shares of the company's stock, valued at approximately $66,841,000. River Road Asset Management LLC owned about 2.28% of United Parks & Resorts as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Amalgamated Bank purchased a new position in shares of United Parks & Resorts during the third quarter valued at approximately $65,000. QRG Capital Management Inc. purchased a new position in shares of United Parks & Resorts during the third quarter valued at approximately $205,000. Cannon Global Investment Management LLC purchased a new position in United Parks & Resorts in the third quarter worth $632,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in United Parks & Resorts in the third quarter worth $27,850,000. Finally, Pinnacle Associates Ltd. purchased a new position in United Parks & Resorts in the third quarter worth $37,679,000.

Insider Activity at United Parks & Resorts

In related news, insider Jayson Maxwell sold 545 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $49.44, for a total transaction of $26,944.80. Following the completion of the sale, the insider now directly owns 722 shares in the company, valued at $35,695.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other United Parks & Resorts news, Director Yoshikazu Maruyama sold 12,984 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $50.07, for a total value of $650,108.88. Following the completion of the sale, the director now owns 41,766 shares in the company, valued at approximately $2,091,223.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jayson Maxwell sold 545 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $49.44, for a total value of $26,944.80. Following the completion of the sale, the insider now owns 722 shares of the company's stock, valued at approximately $35,695.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,366 shares of company stock worth $1,938,984 in the last ninety days. 1.10% of the stock is owned by company insiders.

United Parks & Resorts Trading Up 0.1 %

Shares of PRKS traded up $0.04 during midday trading on Tuesday, reaching $53.04. The stock had a trading volume of 988,839 shares, compared to its average volume of 887,515. The company's 50-day moving average is $51.35 and its 200 day moving average is $51.64. 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 capitalization of $3.07 billion, a price-to-earnings ratio of 13.85 and a beta of 2.00.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PRKS shares. Truist Financial cut their price objective on United Parks & Resorts from $62.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. Mizuho cut their price objective on United Parks & Resorts from $46.00 to $45.00 and set an "underperform" rating on the stock in a research report on Monday, October 28th. Stifel Nicolaus cut their price objective on United Parks & Resorts from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on United Parks & Resorts from $76.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered United Parks & Resorts from a "buy" rating to a "neutral" rating and lowered their target price for the company from $63.00 to $53.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.70.

About United Parks & Resorts

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.