United Parks & Resorts Inc. $PRKS Stake Lifted by Hawk Ridge Capital Management LP

Key Points

• Hawk Ridge Capital Management LP increased its holdings in United Parks & Resorts Inc. by 21.9%, owning 1,740,768 shares worth approximately $79.1 million, making it the firm's 12th largest position.
• United Parks & Resorts recently reported $1.45 earnings per share, missing the consensus estimate of $1.76, and had a revenue of $490.21 million, down 1.5% year-over-year.
• Analysts have varied opinions on United Parks & Resorts, with price targets ranging from $46 to $63 and an average target price of $57.73, reflecting mostly a "Hold" rating.

Hawk Ridge Capital Management LP increased its stake in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 21.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,740,768 shares of the company's stock after acquiring an additional 312,970 shares during the period. United Parks & Resorts makes up approximately 3.7% of Hawk Ridge Capital Management LP's holdings, making the stock its 12th largest holding. Hawk Ridge Capital Management LP owned about 3.17% of United Parks & Resorts worth $79,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinnacle Wealth Management Advisory Group LLC increased its holdings in United Parks & Resorts by 7.4% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock worth $205,000 after purchasing an additional 310 shares during the last quarter. QRG Capital Management Inc. increased its holdings in United Parks & Resorts by 11.3% during 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 during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in United Parks & Resorts during the 1st quarter worth approximately $31,000. Rhumbline Advisers increased its holdings in United Parks & Resorts by 2.5% during the 1st quarter. Rhumbline Advisers now owns 49,738 shares of the company's stock worth $2,261,000 after purchasing an additional 1,190 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of United Parks & Resorts by 11.7% in the 1st quarter. AQR Capital Management LLC now owns 12,220 shares of the company's stock valued at $556,000 after acquiring an additional 1,282 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRKS. Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Guggenheim lowered their price target on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Barclays lowered their price target on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. 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 report on Wednesday, September 3rd. Finally, Citigroup boosted their price target on United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and an average price target of $57.73.

United Parks & Resorts Trading Down 3.5%

PRKS traded down $1.88 during trading on Monday, reaching $52.55. 1,477,924 shares of the company were exchanged, compared to its average volume of 895,414. The stock has a market cap of $2.89 billion, a P/E ratio of 14.05 and a beta of 1.34. The firm has a 50 day moving average of $50.28 and a 200 day moving average of $47.42. United Parks & Resorts Inc. has a 52 week low of $37.68 and a 52 week high of $60.83.

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

United Parks & Resorts declared that its Board of Directors has approved a share buyback program on Friday, September 5th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

United Parks & Resorts 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.