Perpetual Ltd Acquires 125,912 Shares of United Parks & Resorts Inc. (NYSE:PRKS)

Perpetual Ltd raised its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 37.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,150 shares of the company's stock after purchasing an additional 125,912 shares during the quarter. Perpetual Ltd owned about 0.83% of United Parks & Resorts worth $25,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRKS. Hill Path Capital LP acquired a new stake in United Parks & Resorts during the 3rd quarter valued at $1,376,588,000. Eagle Asset Management Inc. purchased a new stake in shares of United Parks & Resorts during the third quarter worth about $21,959,000. Quest Partners LLC acquired a new position in shares of United Parks & Resorts in the third quarter worth about $448,000. Goldentree Asset Management LP purchased a new stake in United Parks & Resorts during the 3rd quarter worth approximately $71,882,000. Finally, Simcoe Capital Management LLC acquired a new position in shares of United Parks & Resorts in the 3rd quarter valued at approximately $110,983,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PRKS shares. Truist Financial upped their price target on shares of United Parks & Resorts from $60.00 to $64.00 and gave the company a "buy" rating in a report on Friday, November 8th. B. Riley reaffirmed a "buy" rating and set a $71.00 price target on shares of United Parks & Resorts in a research report on Monday, October 7th. Guggenheim lowered their price objective on United Parks & Resorts from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Mizuho reaffirmed an "underperform" rating and set a $43.00 target price (down previously from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. Finally, Macquarie lowered 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. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $62.60.

United Parks & Resorts Stock Performance

PRKS traded up $0.58 during trading on Tuesday, reaching $52.81. The company had a trading volume of 2,541,783 shares, compared to its average volume of 923,657. The firm's 50-day simple moving average is $56.51 and its 200 day simple moving average is $53.48. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 13.24 and a beta of 1.99. United Parks & Resorts Inc. has a 12-month low of $44.72 and a 12-month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company earned $1.92 EPS. United Parks & Resorts's revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts expect that United Parks & Resorts Inc. will post 3.96 EPS for the current year.

Insider Activity at United Parks & Resorts

In related news, insider James Mikolaichik acquired 34,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the purchase, the insider now owns 76,267 shares of the company's stock, valued at approximately $4,369,336.43. The trade was a 80.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher L. Finazzo sold 13,000 shares of United Parks & Resorts stock in a transaction that occurred on Friday, December 13th. The shares were 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 directly owns 132,439 shares in the company, valued at approximately $7,366,257.18. This represents a 8.94 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

United Parks & Resorts Company Profile

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.