State Street Corp Invests $42.79 Million in United Parks & Resorts Inc. (NYSE:PRKS)

State Street Corp acquired a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 845,591 shares of the company's stock, valued at approximately $42,787,000. State Street Corp owned about 1.54% of United Parks & Resorts as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRKS. Stifel Financial Corp bought a new position in United Parks & Resorts in the third quarter valued at about $448,000. RBF Capital LLC acquired a new position in United Parks & Resorts during the 3rd quarter valued at about $405,000. Petrus Trust Company LTA bought a new position in shares of United Parks & Resorts in the 3rd quarter valued at about $598,000. Philosophy Capital Management LLC acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth approximately $19,532,000. Finally, Janus Henderson Group PLC bought a new stake in shares of United Parks & Resorts during the third quarter worth approximately $911,000.

United Parks & Resorts Stock Performance

NYSE PRKS traded up $0.46 during trading hours on Friday, reaching $54.08. 1,216,021 shares of the company's stock were exchanged, compared to its average volume of 874,500. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 13.55 and a beta of 2.00. The company's 50-day moving average is $55.64 and its two-hundred day moving average is $52.93. United Parks & Resorts Inc. has a one year low of $44.72 and a one year high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $545.90 million for the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The firm's revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 EPS. Research analysts predict that United Parks & Resorts Inc. will post 3.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. B. Riley reaffirmed a "buy" rating and issued a $71.00 price objective on shares of United Parks & Resorts in a research note on Monday, October 7th. Guggenheim decreased their price objective on United Parks & Resorts from $72.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. Truist Financial increased their target price on United Parks & Resorts from $60.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Citigroup boosted their target price on United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 18th. Finally, Macquarie cut their price target on shares of United Parks & Resorts from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, United Parks & Resorts currently has a consensus rating of "Moderate Buy" and an average target price of $62.60.

Insider Activity

In other United Parks & Resorts news, insider James Mikolaichik bought 34,000 shares of United Parks & Resorts stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price 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 of the company's stock, valued at $4,369,336.43. This trade represents a 80.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher L. Finazzo sold 13,000 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.62, for a total transaction of $723,060.00. Following the sale, the insider now directly owns 132,439 shares in the company, valued at $7,366,257.18. This trade represents a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.