Northwestern Mutual Wealth Management Co. Buys 7,331 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in United Parks & Resorts Inc. by 35.7%, owning 27,849 shares worth approximately $1.27 million.
• Various institutional investors have also adjusted their positions, with Bank of America significantly increasing its holding by 40.8% during the last quarter.
• United Parks & Resorts reported earnings of $1.45 per share, missing estimates by $0.31, and revenue decreased 1.5% year-over-year, totaling $490.21 million.

Northwestern Mutual Wealth Management Co. increased its holdings in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 35.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,849 shares of the company's stock after purchasing an additional 7,331 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.05% of United Parks & Resorts worth $1,266,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. 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 period. QRG Capital Management Inc. raised its position in shares of United Parks & Resorts by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after purchasing an additional 456 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Parks & Resorts during the first quarter worth $31,000. Rhumbline Advisers increased its holdings in shares of United Parks & Resorts by 2.5% in the first quarter. Rhumbline Advisers now owns 49,738 shares of the company's stock valued at $2,261,000 after purchasing an additional 1,190 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in United Parks & Resorts by 0.3% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 556,918 shares of the company's stock worth $25,317,000 after buying an additional 1,609 shares during the last quarter.

United Parks & Resorts Stock Up 0.2%

United Parks & Resorts stock traded up $0.12 during mid-day trading on Thursday, hitting $54.07. The company's stock had a trading volume of 755,849 shares, compared to its average volume of 857,514. The stock's fifty day moving average price is $49.98 and its two-hundred day moving average price is $47.50. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83. The stock has a market capitalization of $2.98 billion, a P/E ratio of 14.46 and a beta of 1.34.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRKS. JPMorgan Chase & Co. decreased their target price 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. Citigroup upped their price objective on United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Stifel Nicolaus lowered their price objective on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Guggenheim dropped their price target on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Mizuho upped their price objective on United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, United Parks & Resorts has an average rating of "Hold" and an average price target of $57.73.

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.