Arrowstreet Capital Limited Partnership Has $9.40 Million Holdings in United Parks & Resorts Inc. $PRKS

Key Points

• Arrowstreet Capital cut its United Parks & Resorts stake by 59.3% in the first quarter, selling 418,717 shares and retaining 287,719 shares worth approximately $9.4 million.
• United Parks & Resorts reported a quarterly loss of $0.69 per share, missing estimates by $0.33, while revenue fell 3% year over year to $278.29 million.
• Analysts maintain a cautious outlook: the stock has a consensus “Hold” rating and an average price target of $47.27, compared with its recent price of $44.61.

Arrowstreet Capital Limited Partnership decreased its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,719 shares of the company's stock after selling 418,717 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.61% of United Parks & Resorts worth $9,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Comerica Bank grew its holdings in shares of United Parks & Resorts by 89.4% during the fourth quarter. Comerica Bank now owns 77,662 shares of the company's stock worth $2,819,000 after purchasing an additional 36,663 shares during the last quarter. Hsbc Holdings PLC acquired a new position in United Parks & Resorts during the 4th quarter worth about $1,416,000. Engine Capital Management LP grew its holdings in United Parks & Resorts by 96.2% during the 4th quarter. Engine Capital Management LP now owns 856,397 shares of the company's stock worth $31,087,000 after acquiring an additional 420,000 shares during the last quarter. Invenomic Capital Management LP increased its position in United Parks & Resorts by 624.8% in the 4th quarter. Invenomic Capital Management LP now owns 309,008 shares of the company's stock valued at $11,217,000 after acquiring an additional 266,375 shares in the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of United Parks & Resorts by 112.6% in the fourth quarter. Cibc World Market Inc. now owns 478,410 shares of the company's stock worth $17,366,000 after acquiring an additional 253,400 shares during the last quarter.

United Parks & Resorts Stock Performance

Shares of NYSE PRKS opened at $44.61 on Friday. The stock has a market cap of $2.10 billion, a P/E ratio of 16.83, a P/E/G ratio of 3.57 and a beta of 1.14. The firm has a 50 day moving average price of $44.77 and a 200 day moving average price of $38.49. United Parks & Resorts Inc. has a 52-week low of $28.77 and a 52-week high of $56.95.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.33). United Parks & Resorts had a negative return on equity of 35.46% and a net margin of 9.09%.The firm had revenue of $278.29 million during the quarter, compared to analyst estimates of $279.92 million. During the same quarter last year, the business posted ($0.29) earnings per share. The company's revenue for the quarter was down 3.0% on a year-over-year basis. Analysts predict that United Parks & Resorts Inc. will post 3.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRKS has been the subject of several research analyst reports. Weiss Ratings upgraded shares of United Parks & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. Guggenheim dropped their target price on United Parks & Resorts from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Zacks Research raised United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Stifel Nicolaus reiterated a "hold" rating and issued a $40.00 price objective (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. Finally, Citizens Jmp initiated coverage on United Parks & Resorts in a report on Monday, June 29th. They set a "market perform" rating for the company. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $47.27.

Insiders Place Their Bets

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 8,000 shares of United Parks & Resorts stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.76, for a total transaction of $294,080.00. Following the transaction, the insider directly owned 130,285 shares in the company, valued at approximately $4,789,276.60. The trade was a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.