Philosophy Capital Management LLC Raises Stock Position in United Parks & Resorts Inc. $PRKS

Key Points

• Philosophy Capital Management LLC has increased its holdings in United Parks & Resorts Inc. by 36.3%, acquiring 109,802 additional shares in the first quarter, now representing about 1.3% of its investment portfolio.
• Despite revenue declining by 1.5% year-over-year to $490.21 million, the company reported an earnings per share (EPS) of $1.45, which missed analyst estimates by $0.31.
• Several analysts have issued conflicting ratings on the stock, with Mizuho downgrading it to "underperform" while Truist Financial assigned a "buy" rating, indicating varying opinions on the company’s potential performance.

Philosophy Capital Management LLC grew its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 412,534 shares of the company's stock after purchasing an additional 109,802 shares during the period. United Parks & Resorts comprises about 1.3% of Philosophy Capital Management LLC's holdings, making the stock its 17th largest holding. Philosophy Capital Management LLC owned approximately 0.75% of United Parks & Resorts worth $18,754,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Parks & Resorts in the 1st quarter valued at about $31,000. GAMMA Investing LLC lifted its stake in shares of United Parks & Resorts by 3,233.3% in the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock valued at $114,000 after acquiring an additional 2,425 shares during the last quarter. QRG Capital Management Inc. lifted its stake 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 acquiring an additional 456 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of United Parks & Resorts by 7.4% in 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 during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of United Parks & Resorts in the 4th quarter valued at about $252,000.

Wall Street Analyst Weigh In

PRKS has been the subject of a number of recent research reports. Guggenheim lowered their target price on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Truist Financial boosted their price target on United Parks & Resorts from $58.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Stifel Nicolaus reduced their price target on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. reduced their price target on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, United Parks & Resorts has an average rating of "Hold" and an average target price of $57.73.

United Parks & Resorts Stock Performance

Shares of United Parks & Resorts stock traded up $0.73 during midday trading on Thursday, hitting $51.04. The company had a trading volume of 376,430 shares, compared to its average volume of 895,198. The stock has a market capitalization of $2.81 billion, a P/E ratio of 13.62 and a beta of 1.34. The company has a 50 day moving average of $50.47 and a 200 day moving average of $47.47. United Parks & Resorts Inc. has a 52-week low of $37.68 and a 52-week high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.31). The business had revenue of $490.21 million during the quarter, compared to the consensus estimate 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 was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. Equities research analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts declared that its board has authorized a stock repurchase plan on Friday, September 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are 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.