Allianz Asset Management GmbH Grows 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 raised its holdings in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 690.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,662 shares of the company's stock after purchasing an additional 40,762 shares during the period. Allianz Asset Management GmbH owned 0.08% of United Parks & Resorts worth $2,121,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in United Parks & Resorts in the 4th quarter worth approximately $753,000. LPL Financial LLC grew its stake in United Parks & Resorts by 7.0% in the 4th quarter. LPL Financial LLC now owns 5,316 shares of the company's stock worth $299,000 after buying an additional 350 shares in the last quarter. Norges Bank purchased a new position in United Parks & Resorts in the 4th quarter worth approximately $11,356,000. National Bank of Canada FI grew its stake in United Parks & Resorts by 2,024,910.0% in the 4th quarter. National Bank of Canada FI now owns 405,002 shares of the company's stock worth $22,757,000 after buying an additional 404,982 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its stake in United Parks & Resorts by 82.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 140,201 shares of the company's stock worth $7,878,000 after buying an additional 63,385 shares in the last quarter.

United Parks & Resorts Stock Performance

Shares of PRKS stock traded up $0.61 during trading hours on Monday, reaching $47.24. The company had a trading volume of 392,901 shares, compared to its average volume of 838,079. The business has a fifty day moving average price of $46.66 and a 200-day moving average price of $47.69. United Parks & Resorts Inc. has a one year low of $37.68 and a one year high of $60.83. The firm has a market cap of $2.60 billion, a PE ratio of 12.60 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.29) earnings per share (EPS) 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 the consensus estimate of $294.28 million. United Parks & Resorts had a net margin of 12.98% and a negative return on equity of 51.46%. The business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share. Equities research analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

Wall Street Analysts Forecast Growth

PRKS has been the topic of several recent research reports. Citigroup increased their target price on shares of United Parks & Resorts from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Morgan Stanley reduced their target price on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday. Truist Financial lowered their price target on shares of United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $57.23.

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.