United Parks & Resorts (NYSE:PRKS) Stock Price Down 5% on Analyst Downgrade

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) shares were down 5% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $64.00 to $62.00. Truist Financial currently has a buy rating on the stock. United Parks & Resorts traded as low as $48.85 and last traded at $48.44. Approximately 103,739 shares traded hands during trading, a decline of 88% from the average daily volume of 887,195 shares. The stock had previously closed at $50.97.

PRKS has been the topic of a number of other reports. Mizuho boosted their price objective on shares of United Parks & Resorts from $43.00 to $45.00 and gave the company an "underperform" rating in a research report on Thursday, February 27th. Macquarie reduced their price target on shares of United Parks & Resorts from $70.00 to $65.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Barclays initiated coverage on shares of United Parks & Resorts in a report on Friday, March 14th. They issued an "equal weight" rating and a $50.00 price objective for the company. Finally, Guggenheim upped their target price on United Parks & Resorts from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $61.18.

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Insider Activity

In other news, insider Byron Surrett sold 7,008 shares of the stock in a transaction 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 represents a 38.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On United Parks & Resorts

Several large investors have recently modified their holdings of PRKS. Jefferies Financial Group Inc. grew its position in United Parks & Resorts by 191.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 51,741 shares of the company's stock valued at $2,907,000 after purchasing an additional 34,000 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of 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 purchasing an additional 599,043 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of United Parks & Resorts by 14.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 99,270 shares of the company's stock worth $5,578,000 after purchasing an additional 12,236 shares during the period. Squarepoint Ops LLC bought a new position in shares of United Parks & Resorts during the 4th quarter valued at approximately $571,000. Finally, Tidal Investments LLC purchased a new stake in United Parks & Resorts during the 4th quarter valued at $484,000.

United Parks & Resorts Price Performance

The business has a 50-day moving average of $50.97 and a 200-day moving average of $53.19. The company has a market capitalization of $2.55 billion, a P/E ratio of 11.63 and a beta of 1.96.

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.