Martingale Asset Management L P Makes New Investment in United Parks & Resorts Inc. $PRKS

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 position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,032 shares of the company's stock, valued at approximately $774,000.

A number of other hedge funds also recently bought and sold shares of the stock. LPL Financial LLC boosted its stake in shares of 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 buying an additional 350 shares during the period. Mariner LLC acquired a new stake in United Parks & Resorts in the fourth quarter valued at approximately $214,000. Northern Trust Corp lifted its stake in United Parks & Resorts by 3.2% in the fourth quarter. Northern Trust Corp now owns 334,839 shares of the company's stock worth $18,815,000 after acquiring an additional 10,484 shares during the last quarter. Comerica Bank lifted its stake in United Parks & Resorts by 23.3% in the fourth quarter. Comerica Bank now owns 8,690 shares of the company's stock worth $488,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in United Parks & Resorts during the 4th quarter worth approximately $471,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRKS shares. Citigroup raised their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Barclays decreased their price target on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. Morgan Stanley lowered their price objective on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Mizuho raised their target price on United Parks & Resorts from $44.00 to $46.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 13th. Finally, Stifel Nicolaus lowered their price target on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a report on Friday, August 8th. 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's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $56.91.

United Parks & Resorts Stock Performance

United Parks & Resorts stock traded up $0.92 during mid-day trading on Friday, reaching $52.48. 535,509 shares of the company were exchanged, compared to its average volume of 939,223. The firm's 50-day simple moving average is $49.51 and its two-hundred day simple moving average is $47.45. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83. The firm has a market cap of $2.89 billion, a PE ratio of 14.03 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.31). United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The company had revenue of $490.21 million for the quarter, compared to analysts' expectations of $505.20 million. During the same quarter last year, the company earned $1.46 EPS. United Parks & Resorts's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

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.