United Parks & Resorts Inc. $PRKS Shares Sold by Great Lakes Advisors LLC

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

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Parks & Resorts during the first quarter valued at approximately $31,000. GAMMA Investing LLC lifted its holdings in United Parks & Resorts by 3,233.3% in the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock valued at $114,000 after purchasing an additional 2,425 shares in the last quarter. QRG Capital Management Inc. lifted its holdings 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 valued at $204,000 after purchasing an additional 456 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in United Parks & Resorts in the 4th quarter valued at $252,000. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings 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 purchasing an additional 310 shares in the last quarter.

United Parks & Resorts Price Performance

PRKS traded down $0.78 during trading hours on Tuesday, reaching $50.76. The company's stock had a trading volume of 210,632 shares, compared to its average volume of 894,147. United Parks & Resorts Inc. has a fifty-two week low of $37.68 and a fifty-two week high of $60.83. The stock has a market cap of $2.79 billion, a PE ratio of 13.57 and a beta of 1.34. The business's 50-day moving average is $50.38 and its 200-day moving average is $47.36.

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

United Parks & Resorts declared that its board has approved a share repurchase program on Friday, September 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

PRKS has been the topic of a number of research reports. 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. Citigroup upped their price target on United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Truist Financial upped their price target on United Parks & Resorts from $58.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. dropped their price target on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Finally, Morgan Stanley dropped their price target on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $57.73.

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.