Corient Private Wealth LP Buys New Stake in United Parks & Resorts Inc. $PRKS

Corient Private Wealth LP purchased a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 98,140 shares of the company's stock, valued at approximately $4,685,000. Corient Private Wealth LP owned 0.22% of United Parks & Resorts as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRKS. ABS Investment Management LLC purchased a new stake in shares of United Parks & Resorts in the second quarter worth about $2,387,000. Comerica Bank raised its position in United Parks & Resorts by 89.4% during the fourth quarter. Comerica Bank now owns 77,662 shares of the company's stock valued at $2,819,000 after acquiring an additional 36,663 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new position in United Parks & Resorts during the first quarter valued at approximately $51,094,000. Hsbc Holdings PLC acquired a new position in United Parks & Resorts in the fourth quarter valued at approximately $1,416,000. Finally, Engine Capital Management LP lifted its holdings in United Parks & Resorts by 20.8% in the first quarter. Engine Capital Management LP now owns 1,034,414 shares of the company's stock valued at $33,784,000 after acquiring an additional 178,017 shares during the period.

Insider Transactions at United Parks & Resorts

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

United Parks & Resorts Price Performance

Shares of NYSE:PRKS opened at $40.02 on Tuesday. United Parks & Resorts Inc. has a 1 year low of $28.77 and a 1 year high of $56.95. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. The business's 50 day moving average price is $45.51 and its 200-day moving average price is $39.53.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.33). The company had revenue of $483.32 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 EPS. On average, sell-side analysts expect that United Parks & Resorts Inc. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stifel Nicolaus restated 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. Citigroup lifted their target price on shares of United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Citizens Jmp assumed coverage on shares of United Parks & Resorts in a research note on Monday, June 29th. They issued a "market perform" rating for the company. Barclays increased their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of United Parks & Resorts from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $47.30.

United Parks & Resorts Company 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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