49,945 Shares in United Parks & Resorts Inc. $PRKS Bought by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors acquired 49,945 shares of United Parks & Resorts in the second quarter, worth approximately $2.38 million and representing about 0.11% of the company.
• United Parks & Resorts reported weaker-than-expected quarterly results, with earnings of $1.34 per share versus the $1.67 consensus estimate and revenue of $483.32 million, down 1.4% year over year.
• Analysts remain cautious: the stock has a consensus “Hold” rating and a $47.30 target price, while shares recently opened at $45.49. Insider Christopher Finazzo also sold 6,622 shares for roughly $292,692.

Great Lakes Advisors LLC bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 49,945 shares of the company's stock, valued at approximately $2,384,000. Great Lakes Advisors LLC owned approximately 0.11% of United Parks & Resorts at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP bought a new position in United Parks & Resorts in the third quarter valued at approximately $28,000. Global Retirement Partners LLC acquired a new position in shares of United Parks & Resorts during the 2nd quarter worth about $31,000. Rockefeller Capital Management L.P. raised its holdings in shares of United Parks & Resorts by 183.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after purchasing an additional 551 shares during the period. Empowered Funds LLC acquired a new stake in United Parks & Resorts in the 4th quarter valued at about $31,000. Finally, Arax Advisory Partners bought a new position in shares of United Parks & Resorts during the 4th quarter worth approximately $31,000.

Insider Activity at United Parks & Resorts

In other news, insider Christopher L. Finazzo sold 6,622 shares of United Parks & Resorts stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $44.20, for a total transaction of $292,692.40. Following the sale, the insider directly owned 123,663 shares of the company's stock, valued at approximately $5,465,904.60. This trade represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

United Parks & Resorts Price Performance

Shares of NYSE PRKS opened at $45.49 on Friday. United Parks & Resorts Inc. has a fifty-two week low of $28.77 and a fifty-two week high of $56.95. The business has a fifty day moving average price of $45.92 and a two-hundred day moving average price of $39.24. The stock has a market capitalization of $2.06 billion, a PE ratio of 17.91, a P/E/G ratio of 4.21 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRKS. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of United Parks & Resorts in a research note on Thursday, August 6th. The Goldman Sachs Group increased their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 27th. UBS Group restated a "neutral" rating and set a $45.00 price objective on shares of United Parks & Resorts in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their target price on United Parks & Resorts from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, Zacks Research lowered United Parks & Resorts from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, United Parks & Resorts has an average rating of "Hold" and a consensus price target of $47.30.

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.

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