Engine Capital Management LP Increases Stake in United Parks & Resorts Inc. $PRKS

Key Points

• Engine Capital Management nearly doubled its stake in United Parks & Resorts in the fourth quarter, adding 420,000 shares and bringing its total to 856,397 shares worth about $31.1 million.
• Other major investors also increased their positions, including Goldman Sachs, AQR Capital Management, UBS AM, and Invesco, signaling continued institutional interest in PRKS.
• Analyst sentiment is mixed but leans cautious: the stock has a Hold consensus with an average target price of $47, even as several firms raised price targets; the company recently missed earnings expectations with quarterly EPS of -$0.69.

Engine Capital Management LP raised its holdings in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 96.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 856,397 shares of the company's stock after acquiring an additional 420,000 shares during the period. United Parks & Resorts makes up 4.3% of Engine Capital Management LP's holdings, making the stock its 8th largest position. Engine Capital Management LP owned 1.57% of United Parks & Resorts worth $31,087,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PRKS. AQR Capital Management LLC increased its holdings in United Parks & Resorts by 11.7% in the first quarter. AQR Capital Management LLC now owns 12,220 shares of the company's stock valued at $556,000 after purchasing an additional 1,282 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of United Parks & Resorts by 58.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 678,813 shares of the company's stock valued at $30,859,000 after acquiring an additional 251,522 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of United Parks & Resorts by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,317 shares of the company's stock valued at $4,651,000 after acquiring an additional 3,047 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of United Parks & Resorts in the 2nd quarter valued at approximately $208,000. Finally, Invesco Ltd. raised its position in shares of United Parks & Resorts by 5.8% in the 2nd quarter. Invesco Ltd. now owns 77,357 shares of the company's stock valued at $3,647,000 after acquiring an additional 4,209 shares during the period.

Insider Buying and Selling at United Parks & Resorts

In related 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 value of $294,080.00. Following the sale, the insider owned 130,285 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on PRKS. Truist Financial upped their target price on shares of United Parks & Resorts from $47.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Weiss Ratings reissued a "sell (d+)" rating on shares of United Parks & Resorts in a report on Friday, March 27th. Mizuho raised United Parks & Resorts from an "underperform" rating to an "outperform" rating and raised their price objective for the stock from $27.00 to $47.00 in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reduced their target price on United Parks & Resorts from $63.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Finally, UBS Group reissued a "neutral" rating and issued a $45.00 target price on shares of United Parks & Resorts in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and an average target price of $47.00.

United Parks & Resorts Stock Down 0.3%

NYSE:PRKS opened at $45.87 on Thursday. The company has a market cap of $2.16 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 3.62 and a beta of 1.17. United Parks & Resorts Inc. has a twelve month low of $28.77 and a twelve month high of $56.95. The business has a 50 day moving average price of $37.97 and a two-hundred day moving average price of $36.15.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.69) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.33). The business had revenue of $278.29 million during the quarter, compared to the consensus estimate of $279.92 million. United Parks & Resorts had a negative return on equity of 35.46% and a net margin of 9.09%.The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.29) EPS. As a group, analysts anticipate that United Parks & Resorts Inc. will post 3.41 earnings per share for the current fiscal year.

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.

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