BNP Paribas Financial Markets Cuts Stock Position in United Parks & Resorts Inc. (NYSE:PRKS)

BNP Paribas Financial Markets reduced its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 82.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,803 shares of the company's stock after selling 46,503 shares during the period. BNP Paribas Financial Markets' holdings in United Parks & Resorts were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI boosted its position 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 during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in United Parks & Resorts by 0.9% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 555,309 shares of the company's stock worth $31,203,000 after purchasing an additional 4,919 shares during the period. Raymond James Financial Inc. bought a new stake in United Parks & Resorts during the fourth quarter worth about $30,292,000. ExodusPoint Capital Management LP lifted its position in United Parks & Resorts by 82.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 140,201 shares of the company's stock worth $7,878,000 after purchasing an additional 63,385 shares during the period. Finally, GFG Capital LLC bought a new stake in United Parks & Resorts during the fourth quarter worth about $301,000.

Insider Activity

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of United Parks & Resorts stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the transaction, the insider now owns 11,050 shares in the company, valued at $540,345. The trade was a 38.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PRKS shares. Guggenheim upped their price objective on United Parks & Resorts from $72.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Macquarie cut their price target on United Parks & Resorts from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Truist Financial cut their target price on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group initiated coverage on United Parks & Resorts in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 price target for the company. Finally, Morgan Stanley increased their price target on United Parks & Resorts from $50.00 to $52.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $58.38.

United Parks & Resorts Stock Down 0.2%

PRKS traded down $0.10 during midday trading on Wednesday, reaching $47.40. The company had a trading volume of 274,158 shares, compared to its average volume of 888,344. The business has a 50-day moving average of $45.30 and a two-hundred day moving average of $51.06. The company has a market cap of $2.61 billion, a P/E ratio of 11.88 and a beta of 1.51. 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 released 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 firm had revenue of $286.95 million for the quarter, compared to analysts' expectations of $294.28 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business's quarterly 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, equities research analysts predict that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

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.