Hawk Ridge Capital Management LP Increases Stock Position in United Parks & Resorts Inc. $PRKS

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 first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,740,768 shares of the company's stock after buying an additional 312,970 shares during the quarter. United Parks & Resorts comprises about 3.7% of Hawk Ridge Capital Management LP's holdings, making the stock its 12th largest position. Hawk Ridge Capital Management LP owned approximately 3.17% of United Parks & Resorts worth $79,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of United Parks & Resorts by 15.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company's stock worth $255,575,000 after buying an additional 599,043 shares during the last quarter. Voss Capital LP lifted its position in 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 purchasing an additional 447,924 shares during the period. HG Vora Capital Management LLC lifted its position in United Parks & Resorts by 180.0% in the first quarter. HG Vora Capital Management LLC now owns 1,400,000 shares of the company's stock valued at $63,644,000 after purchasing an additional 900,000 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in United Parks & Resorts by 9.6% in the first 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. Finally, Bank of America Corp DE lifted its position in United Parks & Resorts by 40.8% in the fourth quarter. Bank of America Corp DE now owns 915,918 shares of the company's stock valued at $51,465,000 after purchasing an additional 265,322 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRKS shares. Zacks Research upgraded shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Mizuho raised their price objective on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a research report on Wednesday, August 13th. Citigroup lifted their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Morgan Stanley reduced their price target on shares of 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. Finally, Truist Financial lifted their price target on shares of United Parks & Resorts from $58.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $57.73.

United Parks & Resorts Stock Down 1.4%

Shares of PRKS stock traded down $0.73 during mid-day trading on Tuesday, hitting $51.96. 396,988 shares of the company's stock were exchanged, compared to its average volume of 892,400. 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 50-day simple moving average of $50.39 and a two-hundred day simple moving average of $47.42. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 13.91 and a beta of 1.34.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $490.21 million for the quarter, compared to analyst estimates of $505.20 million. During the same quarter last year, the business earned $1.46 EPS. United Parks & Resorts's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts anticipate 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 initiated a stock buyback plan on Friday, September 5th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are 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.