Northern Trust Corp Sells 23,235 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Northern Trust Corp reduced its holdings in United Parks & Resorts by 6.9%, selling 23,235 shares in the first quarter, now owning approximately 311,604 shares valued at $14.17 million.
• Equities research analysts have varied opinions on United Parks & Resorts, with ratings including five Buy, six Hold, and one Sell, and a consensus price target of $57.73.
• United Parks & Resorts reported $1.45 EPS for the last quarter, missing expectations by ($0.31), and revenue declined by 1.5% year-over-year, totaling $490.21 million.

Northern Trust Corp trimmed its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 311,604 shares of the company's stock after selling 23,235 shares during the quarter. Northern Trust Corp owned approximately 0.57% of United Parks & Resorts worth $14,166,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC boosted its position 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 valued at $205,000 after acquiring an additional 310 shares in the last quarter. QRG Capital Management Inc. boosted its position 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 valued at $204,000 after acquiring an additional 456 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Parks & Resorts in the 1st quarter worth approximately $31,000. Rhumbline Advisers boosted its position in shares of United Parks & Resorts by 2.5% in 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 in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of United Parks & Resorts by 0.3% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 556,918 shares of the company's stock worth $25,317,000 after purchasing an additional 1,609 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Morgan Stanley cut their target price on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Truist Financial lifted their target price on United Parks & Resorts from $58.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Guggenheim reduced their target price 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. Finally, Zacks Research raised United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Five research 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $57.73.

United Parks & Resorts Price Performance

Shares of NYSE:PRKS traded down $0.17 during midday trading on Tuesday, hitting $52.51. The company had a trading volume of 114,081 shares, compared to its average volume of 890,686. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 14.05 and a beta of 1.34. United Parks & Resorts Inc. has a 12-month low of $37.68 and a 12-month high of $60.83. The company has a fifty day moving average of $50.39 and a two-hundred day moving average of $47.42.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.31). The firm had revenue of $490.21 million during 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%.The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. Research analysts expect 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 authorized a stock repurchase program on Friday, September 5th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board 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.