161,990 Shares in United Parks & Resorts Inc. $PRKS Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 161,990 shares of United Parks & Resorts, valued at approximately $7.7 million, giving it a 0.34% stake.
• United Parks & Resorts reported quarterly EPS of $1.34, below the $1.67 consensus estimate, while revenue of $483.3 million fell short of expectations and declined 1.4% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $47.30; PRKS recently traded at $40.67, while insider Christopher Finazzo sold shares worth approximately $292,692.

Bank of New York Mellon Corp bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 161,990 shares of the company's stock, valued at approximately $7,733,000. Bank of New York Mellon Corp owned approximately 0.34% of United Parks & Resorts as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PRKS. Quarry LP acquired a new position in United Parks & Resorts in the 3rd quarter valued at about $28,000. Rockefeller Capital Management L.P. lifted its stake in shares of United Parks & Resorts by 183.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after buying an additional 551 shares during the period. Arax Advisory Partners acquired a new stake in United Parks & Resorts during the fourth quarter worth approximately $31,000. Empowered Funds LLC acquired a new stake in United Parks & Resorts during the fourth quarter worth approximately $31,000. Finally, Hantz Financial Services Inc. grew its stake in United Parks & Resorts by 985.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,259 shares of the company's stock worth $46,000 after acquiring an additional 1,143 shares during the period.

United Parks & Resorts Price Performance

Shares of PRKS opened at $40.67 on Friday. The stock's 50-day moving average is $45.13 and its two-hundred day moving average is $39.65. The stock has a market cap of $1.84 billion, a PE ratio of 16.01, a P/E/G ratio of 3.84 and a beta of 1.14. United Parks & Resorts Inc. has a 12 month low of $28.77 and a 12 month high of $56.95.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The company had revenue of $483.32 million for the quarter, compared to analyst estimates of $492.10 million. During the same period last year, the firm posted $1.45 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that United Parks & Resorts Inc. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PRKS shares. Guggenheim raised their price objective on United Parks & Resorts from $51.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Stifel Nicolaus reiterated a "hold" rating and set a $40.00 target price (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. Northcoast Research began coverage on United Parks & Resorts in a research note on Wednesday, July 8th. They issued a "neutral" rating on the stock. Weiss Ratings upgraded United Parks & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Citigroup upped their price objective on shares of United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, United Parks & Resorts has a consensus rating of "Hold" and an average target price of $47.30.

Insider Activity at United Parks & Resorts

In other news, insider Christopher Finazzo sold 6,622 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $44.20, for a total value of $292,692.40. Following the completion of the transaction, the insider directly owned 123,663 shares in the company, valued at approximately $5,465,904.60. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company's stock.

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.

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