United Parks & Resorts (NYSE:PRKS) Stock Price Up 4.4% - Time to Buy?

Shares of United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) shot up 4.4% during trading on Wednesday . The stock traded as high as $40.71 and last traded at $40.21. 235,854 shares changed hands during trading, a decline of 74% from the average session volume of 897,500 shares. The stock had previously closed at $38.51.

Analyst Upgrades and Downgrades

PRKS has been the subject of several recent analyst reports. Barclays began coverage on shares of United Parks & Resorts in a report on Friday, March 14th. They issued an "equal weight" rating and a $50.00 target price for the company. Guggenheim upped their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Mizuho increased their target price on United Parks & Resorts from $43.00 to $45.00 and gave the company an "underperform" rating in a research note on Thursday, February 27th. Stifel Nicolaus decreased their price target on United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating for the company in a research note on Friday. Finally, Truist Financial dropped their price objective on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, United Parks & Resorts currently has an average rating of "Hold" and an average price target of $58.50.

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United Parks & Resorts Stock Up 2.3 %

The stock has a market capitalization of $2.36 billion, a PE ratio of 10.73 and a beta of 1.61. The stock's 50 day moving average price is $48.63 and its 200-day moving average price is $52.50.

Insider Activity

In related news, insider Byron Surrett sold 7,008 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $48.90, for a total transaction of $342,691.20. Following the completion of the transaction, the insider now owns 11,050 shares in the company, valued at approximately $540,345. This represents a 38.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds have recently made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of United Parks & Resorts by 2,024,910.0% during the 4th quarter. National Bank of Canada FI now owns 405,002 shares of the company's stock valued at $22,757,000 after acquiring an additional 404,982 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of United Parks & Resorts by 0.9% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 555,309 shares of the company's stock worth $31,203,000 after buying an additional 4,919 shares during the last quarter. Perpetual Ltd lifted its holdings in shares of United Parks & Resorts by 37.8% in the 4th quarter. Perpetual Ltd now owns 459,150 shares of the company's stock valued at $25,800,000 after acquiring an additional 125,912 shares during the last quarter. Raymond James Financial Inc. bought a new stake in United Parks & Resorts during the fourth quarter worth approximately $30,292,000. Finally, Geode Capital Management LLC bought a new stake in United Parks & Resorts during the third quarter worth approximately $37,472,000.

About United Parks & Resorts

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.