Graham Capital Management L.P. Sells 8,542 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Graham Capital Management L.P. reduced its holdings in United Parks & Resorts Inc. by 38.4% in the first quarter, now owning 13,697 shares worth $623,000.
• Analysts have mixed views on PRKS, with ratings ranging from Buy to Sell, and a consensus average target price of $57.73.
• United Parks & Resorts reported an EPS of $1.45 for the last quarter, missing estimates by $0.31 while revenue fell 1.5% year-over-year.

Graham Capital Management L.P. trimmed its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 38.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,697 shares of the company's stock after selling 8,542 shares during the quarter. Graham Capital Management L.P.'s holdings in United Parks & Resorts were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Parks & Resorts in the first quarter valued at about $31,000. GAMMA Investing LLC boosted its holdings in United Parks & Resorts by 3,233.3% during the first quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock worth $114,000 after purchasing an additional 2,425 shares during the last quarter. QRG Capital Management Inc. grew its position in United Parks & Resorts by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after purchasing an additional 456 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in United Parks & Resorts in the 4th quarter worth about $252,000. Finally, Pinnacle Wealth Management Advisory Group LLC increased its stake in United Parks & Resorts by 7.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock valued at $205,000 after buying an additional 310 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRKS. Morgan Stanley cut their target price on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Guggenheim dropped their price target on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Zacks Research raised United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Truist Financial upped their price objective on United Parks & Resorts from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, Stifel Nicolaus lowered their target price on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, United Parks & Resorts currently has a consensus rating of "Hold" and an average target price of $57.73.

United Parks & Resorts Price Performance

Shares of NYSE PRKS traded down $0.12 during trading on Thursday, reaching $50.19. 974,630 shares of the stock traded hands, compared to its average volume of 1,141,508. The stock has a market capitalization of $2.76 billion, a P/E ratio of 13.42 and a beta of 1.34. United Parks & Resorts Inc. has a 52-week low of $37.68 and a 52-week high of $60.83. The company has a 50-day moving average of $50.39 and a 200-day moving average of $47.43.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.31). The firm had revenue of $490.21 million during the quarter, compared to analysts' expectations of $505.20 million. United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The company's revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. Analysts expect that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts announced that its Board of Directors has approved a share buyback plan on Friday, September 5th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.