Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in United Parks & Resorts Inc. $PRKS

Key Points

• Connor Clark & Lunn initiated a position in United Parks & Resorts by purchasing 40,488 shares valued at approximately $1.93 million. BlackRock and several other institutions also established new stakes during the second quarter.
• United Parks & Resorts reported quarterly EPS of $1.34, missing the $1.67 consensus estimate, while revenue of $483.32 million fell short of expectations and declined 1.4% year over year.
• Analysts maintain a generally cautious outlook, with four Buy, nine Hold, and one Sell rating and an average price target of $47.30. The stock recently traded at $42.47, while insider Christopher Finazzo sold 6,622 shares at $44.20 each.

Connor Clark & Lunn Investment Management Ltd. bought a new position in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,488 shares of the company's stock, valued at approximately $1,933,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of United Parks & Resorts at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PRKS. Quantbot Technologies LP bought a new position in shares of United Parks & Resorts during the 2nd quarter valued at $141,000. NewEdge Wealth LLC bought a new stake in shares of United Parks & Resorts in the second quarter worth $649,000. Great Lakes Advisors LLC bought a new stake in shares of United Parks & Resorts in the second quarter worth $2,384,000. BlackRock Inc. purchased a new stake in United Parks & Resorts during the second quarter valued at $171,560,000. Finally, Deutsche Bank AG purchased a new stake in United Parks & Resorts during the second quarter valued at $1,138,000.

Insider Activity at United Parks & Resorts

In other news, insider Christopher L. Finazzo sold 6,622 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the sale, the insider directly owned 123,663 shares in the company, valued at $5,465,904.60. This trade represents a 5.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

United Parks & Resorts Trading Down 0.0%

United Parks & Resorts stock opened at $42.47 on Friday. The firm has a 50 day moving average of $45.63 and a 200 day moving average of $39.49. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 3.99 and a beta of 1.16. 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 released its earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.33). The firm had revenue of $483.32 million for the quarter, compared to the consensus estimate of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.United Parks & Resorts's revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.45 EPS. On average, analysts predict that United Parks & Resorts Inc. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on PRKS shares. UBS Group reissued a "neutral" rating and issued a $45.00 target price on shares of United Parks & Resorts in a research report on Monday, June 15th. Stifel Nicolaus reaffirmed a "hold" rating and set a $40.00 price target (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. Citizens Jmp started coverage on shares of United Parks & Resorts in a research note on Monday, June 29th. They issued a "market perform" rating on the stock. Guggenheim raised their price objective on shares of United Parks & Resorts from $51.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group boosted their target price on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, United Parks & Resorts has an average rating of "Hold" and an average price target of $47.30.

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.

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