17,032 Shares in United Parks & Resorts Inc. $PRKS Acquired by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P acquired 17,032 shares of United Parks & Resorts Inc. during the first quarter, valued at approximately $774,000.
• Several hedge funds made significant adjustments to their positions in United Parks & Resorts, with T. Rowe Price increasing its stake by 9.6% and Voss Capital raising its position by 30.9%.
• Analysts have set a consensus price target of $56.91 for United Parks & Resorts, with mixed ratings: five "Buy," five "Hold," and one "Sell."

Martingale Asset Management L P bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,032 shares of the company's stock, valued at approximately $774,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC raised its stake in United Parks & Resorts by 7.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock valued at $205,000 after purchasing an additional 310 shares during the last quarter. LPL Financial LLC raised its stake in United Parks & Resorts by 7.0% in the 4th quarter. LPL Financial LLC now owns 5,316 shares of the company's stock valued at $299,000 after purchasing an additional 350 shares during the last quarter. QRG Capital Management Inc. raised its stake in United Parks & Resorts by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after purchasing an additional 456 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in United Parks & Resorts in the 1st quarter valued at about $31,000. Finally, Rhumbline Advisers raised its stake in United Parks & Resorts by 2.5% in the 1st quarter. Rhumbline Advisers now owns 49,738 shares of the company's stock valued at $2,261,000 after purchasing an additional 1,190 shares during the last quarter.

Analyst Upgrades and Downgrades

PRKS has been the subject of several analyst reports. Citigroup boosted their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Mizuho boosted their target price on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Barclays cut their target price on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Stifel Nicolaus dropped their price objective on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Guggenheim dropped their price objective on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $56.91.

United Parks & Resorts Stock Performance

PRKS traded down $0.48 on Thursday, reaching $51.62. 716,990 shares of the company's stock were exchanged, compared to its average volume of 854,049. The company's 50 day moving average is $49.16 and its 200-day moving average is $47.48. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 13.80 and a beta of 1.48. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.76 by ($0.31). The business had revenue of $490.21 million for the quarter, compared to analyst estimates of $505.20 million. United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. Sell-side analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts 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.