United Parks & Resorts Inc. $PRKS Shares Acquired by Maverick Capital Ltd.

Key Points

• Maverick Capital Ltd. increased its stake in United Parks & Resorts Inc. by 85.7%, owning 106,004 shares worth approximately $4.82 million as of its latest SEC filing.
• Several hedge funds adjusted their positions in United Parks & Resorts, including Bank of America Corp DE, which raised its holdings by 40.8% in the fourth quarter.
• United Parks & Resorts reported an earnings per share of $1.45, missing analysts' expectations of $1.76 and marking a 1.5% decline in year-over-year revenue.

Maverick Capital Ltd. increased its holdings in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 85.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,004 shares of the company's stock after purchasing an additional 48,935 shares during the quarter. Maverick Capital Ltd. owned 0.19% of United Parks & Resorts worth $4,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mariner LLC acquired a new position in United Parks & Resorts in the 4th quarter valued at about $214,000. Northern Trust Corp grew its position in United Parks & Resorts by 3.2% in the 4th quarter. Northern Trust Corp now owns 334,839 shares of the company's stock valued at $18,815,000 after acquiring an additional 10,484 shares in the last quarter. Comerica Bank grew its position in United Parks & Resorts by 23.3% in the 4th quarter. Comerica Bank now owns 8,690 shares of the company's stock valued at $488,000 after acquiring an additional 1,644 shares in the last quarter. Freestone Grove Partners LP acquired a new position in United Parks & Resorts in the 4th quarter valued at about $471,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of United Parks & Resorts by 26.9% in the 4th quarter. Ameriprise Financial Inc. now owns 41,816 shares of the company's stock valued at $2,350,000 after buying an additional 8,867 shares during the period.

Wall Street Analysts Forecast Growth

PRKS has been the subject of several recent research reports. Barclays decreased their price objective on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Stifel Nicolaus decreased their price objective on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Morgan Stanley decreased their price objective on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Citigroup lifted their price objective on United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, United Parks & Resorts has an average rating of "Hold" and an average price target of $57.73.

United Parks & Resorts Trading Up 0.3%

PRKS stock traded up $0.16 during trading on Friday, hitting $54.51. 5,960,844 shares of the company's stock were exchanged, compared to its average volume of 852,128. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.58 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 business has a 50-day moving average price of $50.28 and a two-hundred day moving average price of $47.52.

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 the consensus estimate of $1.76 by ($0.31). The firm had revenue of $490.21 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. On average, equities research analysts anticipate that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts declared that its board has approved a stock repurchase program on Friday, September 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is 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.