Simcoe Capital Management LLC Invests $110.98 Million in United Parks & Resorts Inc. (NYSE:PRKS)

Simcoe Capital Management LLC bought a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,193,340 shares of the company's stock, valued at approximately $110,983,000. United Parks & Resorts accounts for approximately 14.6% of Simcoe Capital Management LLC's investment portfolio, making the stock its 3rd biggest holding. Simcoe Capital Management LLC owned 3.99% of United Parks & Resorts as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC acquired a new stake in United Parks & Resorts during the 3rd quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new position in United Parks & Resorts during the third quarter valued at $28,000. Blue Trust Inc. purchased a new stake in United Parks & Resorts in the third quarter valued at $30,000. KBC Group NV purchased a new position in shares of United Parks & Resorts during the 3rd quarter valued at about $54,000. Finally, Amalgamated Bank acquired a new position in shares of United Parks & Resorts in the 3rd quarter valued at about $65,000.

United Parks & Resorts Trading Up 2.5 %

PRKS stock traded up $1.46 during mid-day trading on Monday, reaching $60.10. The company's stock had a trading volume of 569,078 shares, compared to its average volume of 885,862. United Parks & Resorts Inc. has a fifty-two week low of $44.72 and a fifty-two week high of $60.83. The stock has a market cap of $3.31 billion, a PE ratio of 14.70 and a beta of 2.00. The company's 50 day moving average is $53.61 and its two-hundred day moving average is $52.33.

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

Insider Activity at United Parks & Resorts

In other 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 purchased at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the insider now owns 85,463 shares of the company's stock, valued at $4,524,411.22. This trade represents 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PRKS shares. Truist Financial lifted their price target on United Parks & Resorts from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Citigroup increased their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, September 18th. Mizuho reiterated an "underperform" rating and issued a $43.00 price objective (down previously from $45.00) on shares of United Parks & Resorts in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their target price 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, 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. One research 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.60.

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.