Melqart Asset Management UK Ltd Takes $15.52 Million Position in United Parks & Resorts Inc. $PRKS

Key Points

• Melqart Asset Management UK Ltd bought 300,178 shares of United Parks & Resorts (NYSE:PRKS) worth about $15.52 million in Q3, equal to ~0.55% of PRKS and roughly 2.1% of Melqart’s portfolio (its 19th largest holding).
• PRKS recently missed results, reporting $0.28 EPS vs. a $0.46 consensus and revenue slightly below estimates with revenue down 2.8% YoY; the stock trades near $30.89 (market cap ~$1.5B) and carries a consensus "Hold" rating with a $46.40 price target.

Melqart Asset Management UK Ltd acquired a new position in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 300,178 shares of the company's stock, valued at approximately $15,519,000. United Parks & Resorts accounts for approximately 2.1% of Melqart Asset Management UK Ltd's portfolio, making the stock its 19th largest holding. Melqart Asset Management UK Ltd owned 0.55% of United Parks & Resorts at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in United Parks & Resorts by 11.7% during the 1st quarter. AQR Capital Management LLC now owns 12,220 shares of the company's stock valued at $556,000 after purchasing an additional 1,282 shares during the period. Goldman Sachs Group Inc. boosted its stake in United Parks & Resorts by 58.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 678,813 shares of the company's stock worth $30,859,000 after purchasing an additional 251,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in United Parks & Resorts by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,317 shares of the company's stock valued at $4,651,000 after buying an additional 3,047 shares in the last quarter. LSV Asset Management grew its holdings in United Parks & Resorts by 8.8% during the 2nd quarter. LSV Asset Management now owns 51,900 shares of the company's stock valued at $2,447,000 after buying an additional 4,200 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its position in shares of United Parks & Resorts by 62.8% during the second quarter. Ensign Peak Advisors Inc now owns 41,819 shares of the company's stock valued at $1,972,000 after buying an additional 16,135 shares during the last quarter.

United Parks & Resorts Price Performance

Shares of PRKS opened at $30.89 on Friday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.18. United Parks & Resorts Inc. has a 1 year low of $29.62 and a 1 year high of $56.95. The business's 50 day simple moving average is $35.83 and its 200-day simple moving average is $41.27.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.18). The business had revenue of $373.55 million during the quarter, compared to the consensus estimate of $375.87 million. United Parks & Resorts had a negative return on equity of 41.63% and a net margin of 10.13%.The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 earnings per share for the current year.

Insider Activity at United Parks & Resorts

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 7,200 shares of United Parks & Resorts stock in a transaction on Monday, December 15th. The shares were sold at an average price of $35.12, for a total value of $252,864.00. Following the completion of the transaction, the insider directly owned 138,285 shares of the company's stock, valued at $4,856,569.20. This trade represents a 4.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRKS. Guggenheim lowered their target price on shares of United Parks & Resorts from $56.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Zacks Research raised shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 1st. Mizuho reduced their price target on shares of United Parks & Resorts from $28.00 to $27.00 and set an "underperform" rating on the stock in a report on Monday, March 2nd. Citigroup decreased their price target on shares of United Parks & Resorts from $40.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of United Parks & Resorts in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.40.

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.

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