Verition Fund Management LLC Takes $495,000 Position in United Parks & Resorts Inc. (NYSE:PRKS)

Verition Fund Management LLC acquired a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,784 shares of the company's stock, valued at approximately $495,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PRKS. Hexagon Capital Partners LLC acquired a new stake in United Parks & Resorts in the third quarter valued at $25,000. Exchange Traded Concepts LLC purchased a new position in shares of United Parks & Resorts in the 3rd quarter valued at about $28,000. Blue Trust Inc. purchased a new position in shares of United Parks & Resorts in the 3rd quarter valued at about $30,000. KBC Group NV acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $54,000. Finally, Amalgamated Bank purchased a new stake in United Parks & Resorts during the third quarter worth approximately $65,000.

Insiders Place Their Bets

In related news, insider James Mikolaichik bought 34,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost 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 in the company, valued at $4,369,336.43. This trade 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 this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PRKS shares. B. Riley reissued a "buy" rating and set a $71.00 price objective on shares of United Parks & Resorts in a report on Monday, October 7th. 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 note on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on shares of United Parks & Resorts from $57.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Guggenheim cut their target price on United Parks & Resorts from $72.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Finally, Citigroup boosted their target price on United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.60.

United Parks & Resorts Trading Down 1.7 %

Shares of NYSE PRKS traded down $0.95 during trading on Thursday, reaching $55.70. The company had a trading volume of 323,609 shares, compared to its average volume of 875,348. The stock has a market capitalization of $3.06 billion, a PE ratio of 13.96 and a beta of 2.00. The stock has a 50-day moving average price of $55.02 and a two-hundred day moving average price of $52.75. United Parks & Resorts Inc. has a twelve month low of $44.72 and a twelve month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.08 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 firm had revenue of $545.90 million for the quarter, compared to analysts' expectations of $550.47 million. During the same quarter last year, the firm earned $1.92 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that United Parks & Resorts Inc. will post 3.97 EPS for the current year.

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.