United Parks & Resorts (NYSE:PRKS) Hits New 1-Year Low - Here's What Happened

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $38.64 and last traded at $38.70, with a volume of 48098 shares. The stock had previously closed at $41.72.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays started coverage on United Parks & Resorts in a research note on Friday, March 14th. They set an "equal weight" rating and a $50.00 price target on the stock. Guggenheim upped their price target on shares of United Parks & Resorts from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. UBS Group initiated coverage on United Parks & Resorts in a report on Wednesday. They set a "neutral" rating and a $49.00 target price for the company. Macquarie decreased their price objective on United Parks & Resorts from $70.00 to $65.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Finally, Stifel Nicolaus reduced their target price on shares of United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $59.33.

United Parks & Resorts Price Performance

The firm's fifty day simple moving average is $48.63 and its 200 day simple moving average is $52.49. The company has a market capitalization of $2.30 billion, a PE ratio of 10.47 and a beta of 1.61.

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Insider Buying and Selling at United Parks & Resorts

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the sale, the insider now directly owns 11,050 shares of the company's stock, valued at approximately $540,345. This trade represents a 38.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRKS. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in United Parks & Resorts by 15.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company's stock valued at $255,575,000 after acquiring an additional 599,043 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of United Parks & Resorts by 34.1% during the 4th quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company's stock worth $99,548,000 after purchasing an additional 450,670 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in United Parks & Resorts by 1.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,452,380 shares of the company's stock valued at $81,609,000 after purchasing an additional 19,012 shares in the last quarter. Voss Capital LP grew its position in shares of United Parks & Resorts by 0.4% in the 4th quarter. Voss Capital LP now owns 1,447,500 shares of the company's stock valued at $81,335,000 after buying an additional 5,838 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in United Parks & Resorts by 62.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,055,026 shares of the company's stock worth $59,282,000 after buying an additional 404,120 shares during the period.

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.