Allianz Asset Management GmbH Increases Stock Position in United Parks & Resorts Inc. (NYSE:PRKS)

Key Points

• Allianz Asset Management GmbH significantly increased its stake in United Parks & Resorts Inc. by 690.9%, owning 46,662 shares after purchasing 40,762 shares in the first quarter.
• United Parks & Resorts reported a quarterly earnings per share (EPS) of ($0.29), missing estimates by ($0.06) and showing a year-over-year revenue decline of 3.5%.
• Analyst ratings for United Parks & Resorts are mixed, with a consensus rating of "Hold" and an average target price of $57.38.

Allianz Asset Management GmbH boosted its stake in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 690.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,662 shares of the company's stock after buying an additional 40,762 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.08% of United Parks & Resorts worth $2,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRKS. Janney Montgomery Scott LLC acquired a new position in shares of United Parks & Resorts in the 1st quarter valued at about $375,000. Bank of America Corp DE grew its holdings in shares of United Parks & Resorts by 40.8% in the fourth quarter. Bank of America Corp DE now owns 915,918 shares of the company's stock valued at $51,465,000 after acquiring an additional 265,322 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of United Parks & Resorts by 2,024,910.0% in the fourth quarter. National Bank of Canada FI now owns 405,002 shares of the company's stock valued at $22,757,000 after acquiring an additional 404,982 shares in the last quarter. ExodusPoint Capital Management LP grew its holdings in shares of United Parks & Resorts by 82.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 140,201 shares of the company's stock valued at $7,878,000 after acquiring an additional 63,385 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in United Parks & Resorts in the fourth quarter valued at approximately $571,000.

United Parks & Resorts Stock Performance

Shares of United Parks & Resorts stock traded down $0.60 on Friday, hitting $46.73. 698,574 shares of the company's stock were exchanged, compared to its average volume of 652,010. The company has a 50-day simple moving average of $46.64 and a 200-day simple moving average of $47.78. The stock has a market capitalization of $2.57 billion, a PE ratio of 12.46 and a beta of 1.48. United Parks & Resorts Inc. has a 1 year low of $37.68 and a 1 year high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The business had revenue of $286.95 million for the quarter, compared to analysts' expectations of $294.28 million. United Parks & Resorts had a negative return on equity of 51.46% and a net margin of 12.98%. The company's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. On average, analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on PRKS. JPMorgan Chase & Co. dropped their target price on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Guggenheim reduced their target price on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Morgan Stanley raised their price objective on United Parks & Resorts from $50.00 to $52.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Barclays dropped 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 report on Friday, July 11th. Finally, UBS Group assumed coverage on shares of United Parks & Resorts in a report on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $57.38.

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.