ABS Investment Management LLC Takes Position in United Parks & Resorts Inc. $PRKS

ABS Investment Management LLC purchased a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 50,000 shares of the company's stock, valued at approximately $2,387,000,000. United Parks & Resorts comprises about 1.6% of ABS Investment Management LLC's investment portfolio, making the stock its 14th biggest position. ABS Investment Management LLC owned 0.11% of United Parks & Resorts as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. lifted its stake in shares of United Parks & Resorts by 742.3% in the 3rd quarter. Nomura Holdings Inc. now owns 4,476,357 shares of the company's stock valued at $231,428,000 after acquiring an additional 3,944,894 shares during the last quarter. BlackRock Inc. acquired a new position in United Parks & Resorts in the 2nd quarter worth about $171,560,000. Goldentree Asset Management LP increased its holdings in United Parks & Resorts by 83.5% in the 4th quarter. Goldentree Asset Management LP now owns 2,438,437 shares of the company's stock worth $88,366,000 after purchasing an additional 1,109,930 shares in the last quarter. River Road Asset Management LLC raised its position in United Parks & Resorts by 3.8% in the fourth quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company's stock valued at $74,645,000 after purchasing an additional 74,392 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new position in United Parks & Resorts in the first quarter valued at about $51,094,000.

Analyst Ratings Changes

PRKS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on United Parks & Resorts in a research note on Thursday, August 6th. Barclays boosted their target price on shares of United Parks & Resorts from $37.00 to $41.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Citigroup upped their price target on shares of United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on shares of United Parks & Resorts from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of United Parks & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $47.30.

Insider Activity at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 6,622 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total transaction of $292,692.40. Following the completion of the sale, the insider owned 123,663 shares of the company's stock, valued at $5,465,904.60. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

United Parks & Resorts Stock Down 2.3%

PRKS stock opened at $43.75 on Wednesday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 4.21 and a beta of 1.16. The company's fifty day simple moving average is $45.85 and its 200 day simple moving average is $39.38. 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 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 business had revenue of $483.32 million for the quarter, compared to analyst estimates of $492.10 million. During the same quarter in the previous year, the business posted $1.45 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. Research analysts expect that United Parks & Resorts Inc. will post 2.85 earnings per share 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.

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