Deutsche Bank AG Makes New $1.14 Million Investment in United Parks & Resorts Inc. $PRKS

Key Points

• Deutsche Bank initiated a $1.14 million position in United Parks & Resorts during the second quarter, acquiring 23,840 shares and ending the period with a 0.05% ownership stake.
• Analysts remain cautious: the stock has a consensus “Hold” rating and a $47.30 target price, despite price-target increases from JPMorgan and Guggenheim and a downgrade from Zacks Research to “strong sell.”
• United Parks & Resorts missed quarterly expectations, reporting $1.34 in EPS versus $1.67 expected and $483.32 million in revenue versus $492.10 million expected; revenue declined 1.4% year over year.

Deutsche Bank AG bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,840 shares of the company's stock, valued at approximately $1,138,000. Deutsche Bank AG owned 0.05% of United Parks & Resorts at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PRKS. Quarry LP purchased a new stake in United Parks & Resorts during the third quarter valued at about $28,000. Rockefeller Capital Management L.P. raised its position in shares of United Parks & Resorts by 183.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after purchasing an additional 551 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of United Parks & Resorts during the 2nd quarter valued at approximately $31,000. Arax Advisory Partners purchased a new stake in shares of United Parks & Resorts during the 4th quarter valued at approximately $31,000. Finally, Empowered Funds LLC bought a new position in United Parks & Resorts in the 4th quarter worth approximately $31,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PRKS shares. Weiss Ratings raised shares of United Parks & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price objective on United Parks & Resorts from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Guggenheim increased their price objective on United Parks & Resorts from $51.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Zacks Research downgraded United Parks & Resorts from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Finally, Mizuho set a $51.00 target price on United Parks & Resorts in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, United Parks & Resorts has an average rating of "Hold" and a consensus target price of $47.30.

United Parks & Resorts Trading Down 0.0%

Shares of NYSE PRKS opened at $42.47 on Monday. The business has a 50-day moving average of $45.63 and a 200-day moving average of $39.50. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.72, a PEG 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 quarterly 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). United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The company had revenue of $483.32 million during the quarter, compared to analysts' expectations of $492.10 million. During the same period in the prior year, the firm earned $1.45 EPS. United Parks & Resorts's quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that United Parks & Resorts Inc. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 6,622 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $44.20, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source