Penn Capital Management Company LLC Has $25.52 Million Holdings in United Parks & Resorts Inc. $PRKS

Key Points

• Penn Capital Management increased its United Parks & Resorts stake by 17.8% in the second quarter, owning 533,554 shares valued at approximately $25.52 million, or 1.18% of the company.
• United Parks & Resorts reported weaker-than-expected quarterly results, with EPS of $1.34 versus the $1.67 consensus estimate and revenue of $483.32 million, down 1.4% year over year.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $47.30 price target, while shares recently opened at $42.47; insider Christopher Finazzo also sold 6,622 shares.

Penn Capital Management Company LLC raised its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 17.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533,554 shares of the company's stock after buying an additional 80,588 shares during the period. United Parks & Resorts accounts for 1.6% of Penn Capital Management Company LLC's holdings, making the stock its 8th largest holding. Penn Capital Management Company LLC owned approximately 1.18% of United Parks & Resorts worth $25,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP acquired a new position in shares of United Parks & Resorts during the third quarter worth $28,000. Group One Trading LLC acquired a new stake in shares of United Parks & Resorts during the 2nd quarter valued at $31,000. Global Retirement Partners LLC acquired a new stake in shares of United Parks & Resorts during the 2nd quarter valued at $31,000. Rockefeller Capital Management L.P. boosted its holdings in shares of United Parks & Resorts by 183.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after acquiring an additional 551 shares in the last quarter. Finally, Arax Advisory Partners bought a new stake in United Parks & Resorts during the 4th quarter worth $31,000.

Insiders Place Their Bets

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 6,622 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the completion of the transaction, the insider owned 123,663 shares in the company, valued at approximately $5,465,904.60. This trade represents a 5.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRKS. Mizuho set a $51.00 target price on United Parks & Resorts in a report on Wednesday, August 5th. Guggenheim lifted their price target on United Parks & Resorts from $51.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Stifel Nicolaus reiterated a "hold" rating and set a $40.00 target price (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. UBS Group reissued a "neutral" rating and set a $45.00 target price on shares of United Parks & Resorts in a report on Monday, June 15th. Finally, Northcoast Research started coverage on shares of United Parks & Resorts in a research report on Wednesday, July 8th. They issued a "neutral" rating for the company. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $47.30.

United Parks & Resorts Trading Down 0.0%

NYSE PRKS opened at $42.47 on Friday. The firm has a market capitalization of $1.93 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. The business's 50-day moving average price is $45.63 and its two-hundred day moving average price is $39.49. United Parks & Resorts Inc. has a 12 month low of $28.77 and a 12 month high of $56.95.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.33). United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The company had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. During the same period in the prior year, the firm earned $1.45 earnings per share. United Parks & Resorts's revenue was down 1.4% compared to the same quarter last year. As a group, analysts forecast that United Parks & Resorts Inc. will post 2.85 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding PRKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parks & Resorts Inc. (NYSE:PRKS - Free Report).

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