Great Lakes Advisors LLC Sells 12,987 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Great Lakes Advisors LLC reduced its stake in United Parks & Resorts by 23.6%, now owning 42,082 shares valued at approximately $1.9 million.
• Analysts have adjusted their price targets for United Parks & Resorts, with JPMorgan Chase and Guggenheim lowering theirs, while the company has a consensus rating of "Hold."
• The company reported earnings of $1.45 per share, missing estimates, and had a year-over-year revenue decrease of 1.5%.

Great Lakes Advisors LLC decreased its position in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,082 shares of the company's stock after selling 12,987 shares during the quarter. Great Lakes Advisors LLC owned about 0.08% of United Parks & Resorts worth $1,913,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in United Parks & Resorts by 15.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company's stock valued at $255,575,000 after buying an additional 599,043 shares in the last quarter. Voss Capital LP boosted its position in shares of United Parks & Resorts by 30.9% in the first quarter. Voss Capital LP now owns 1,895,424 shares of the company's stock valued at $86,166,000 after acquiring an additional 447,924 shares during the period. Hawk Ridge Capital Management LP grew its stake in shares of United Parks & Resorts by 21.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company's stock valued at $79,135,000 after acquiring an additional 312,970 shares in the last quarter. HG Vora Capital Management LLC raised its stake in United Parks & Resorts by 180.0% in the 1st quarter. HG Vora Capital Management LLC now owns 1,400,000 shares of the company's stock worth $63,644,000 after purchasing an additional 900,000 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in United Parks & Resorts by 9.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,156,400 shares of the company's stock valued at $52,570,000 after purchasing an additional 101,374 shares during the period.

United Parks & Resorts Stock Up 1.0%

PRKS traded up $0.49 during midday trading on Friday, hitting $50.67. 705,007 shares of the company were exchanged, compared to its average volume of 1,116,774. The firm's 50 day moving average price is $50.32 and its 200-day moving average price is $47.37. United Parks & Resorts Inc. has a 1-year low of $37.68 and a 1-year high of $60.83. The firm has a market capitalization of $2.79 billion, a P/E ratio of 13.55 and a beta of 1.34.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. On average, sell-side analysts predict 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 authorized a share buyback program on Friday, September 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRKS. Truist Financial boosted their price target 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. Zacks Research raised shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Barclays decreased their target price on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Friday, July 11th. Guggenheim lowered their price target on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Mizuho raised their price objective on United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, United Parks & Resorts has an average rating of "Hold" and a consensus target price of $57.73.

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.