ABS Direct Equity Fund LLC Purchases 5,000 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• ABS Direct Equity Fund LLC increased its holdings in United Parks & Resorts by 8.3%, now owning 65,000 shares, making it the fund's 6th largest holding.
• United Parks & Resorts reported earnings per share (EPS) of $1.45 in its last quarterly report, missing analyst expectations of $1.76.
• The company has announced a share buyback plan which is often interpreted as a sign that leadership perceives the stock to be undervalued.

ABS Direct Equity Fund LLC lifted its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the company's stock after purchasing an additional 5,000 shares during the period. United Parks & Resorts accounts for 4.9% of ABS Direct Equity Fund LLC's portfolio, making the stock its 6th largest holding. ABS Direct Equity Fund LLC owned 0.12% of United Parks & Resorts worth $3,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PRKS. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Parks & Resorts during the 1st quarter worth about $31,000. GAMMA Investing LLC increased its stake in shares of United Parks & Resorts by 3,233.3% during the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock worth $114,000 after purchasing an additional 2,425 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of United Parks & Resorts by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after purchasing an additional 456 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of United Parks & Resorts by 7.4% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock worth $205,000 after purchasing an additional 310 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of United Parks & Resorts by 6.1% during the 1st quarter. Inspire Investing LLC now owns 7,540 shares of the company's stock worth $343,000 after purchasing an additional 434 shares during the last quarter.

United Parks & Resorts Stock Up 3.1%

NYSE PRKS opened at $51.80 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 13.85 and a beta of 1.34. United Parks & Resorts Inc. has a 12-month low of $37.68 and a 12-month high of $60.83. The firm has a 50-day moving average price of $50.97 and a two-hundred day moving average price of $47.51.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $505.20 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. Equities analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts announced that its board has initiated a share buyback plan on Friday, September 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

PRKS has been the topic of a number of research reports. Truist Financial upped their price target on shares of United Parks & Resorts from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Citigroup upped their price target 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. Morgan Stanley decreased their price target on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Barclays decreased their price target on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Friday, July 11th. Finally, Zacks Research upgraded shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, United Parks & Resorts presently has a consensus rating of "Hold" and a consensus price target of $57.73.

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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