SG Americas Securities LLC Trims Position in United Parks & Resorts Inc. $PRKS

Key Points

• SG Americas Securities LLC cut its stake in United Parks & Resorts by 77.8% in the first quarter, selling 104,866 shares and leaving it with 29,928 shares worth about $977,000.
• United Parks & Resorts reported weaker-than-expected quarterly results, posting EPS of ($0.69) versus the consensus estimate of ($0.36), while revenue came in slightly below estimates at $278.29 million.
• Wall Street sentiment is mixed: analysts currently rate the stock Hold on average, with an average price target of $47, while recent ratings ranged from neutral and market perform to buy and outperform.

SG Americas Securities LLC trimmed its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 77.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,928 shares of the company's stock after selling 104,866 shares during the period. SG Americas Securities LLC owned 0.06% of United Parks & Resorts worth $977,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PRKS. Nomura Holdings Inc. boosted its holdings in United Parks & Resorts by 742.3% in the 3rd quarter. Nomura Holdings Inc. now owns 4,476,357 shares of the company's stock worth $231,428,000 after buying an additional 3,944,894 shares during the period. Goldentree Asset Management LP raised its holdings in United Parks & Resorts by 83.5% during the fourth quarter. Goldentree Asset Management LP now owns 2,438,437 shares of the company's stock valued at $88,366,000 after acquiring an additional 1,109,930 shares during the period. River Road Asset Management LLC raised its holdings in United Parks & Resorts by 3.8% during the fourth quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company's stock valued at $74,645,000 after acquiring an additional 74,392 shares during the period. Voss Capital LP raised its holdings in United Parks & Resorts by 4.3% during the third quarter. Voss Capital LP now owns 2,050,000 shares of the company's stock valued at $105,985,000 after acquiring an additional 85,000 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of United Parks & Resorts by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,078,618 shares of the company's stock valued at $55,767,000 after acquiring an additional 8,877 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRKS. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price objective on shares of United Parks & Resorts in a research note on Monday, June 15th. Mizuho raised United Parks & Resorts from an "underperform" rating to an "outperform" rating and lifted their target price for the company from $27.00 to $47.00 in a research note on Friday, May 8th. Citigroup began coverage on United Parks & Resorts in a report on Monday, June 29th. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on United Parks & Resorts from $63.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Finally, Truist Financial lifted their price objective on shares of United Parks & Resorts from $47.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $47.00.

United Parks & Resorts Stock Down 0.2%

Shares of United Parks & Resorts stock opened at $48.34 on Friday. United Parks & Resorts Inc. has a twelve month low of $28.77 and a twelve month high of $56.95. The business has a 50-day moving average price of $40.59 and a 200-day moving average price of $37.07. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 3.81 and a beta of 1.14.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.69) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.33). The firm had revenue of $278.29 million for the quarter, compared to the consensus estimate of $279.92 million. United Parks & Resorts had a net margin of 9.09% and a negative return on equity of 35.46%. United Parks & Resorts's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) earnings per share. On average, equities analysts expect that United Parks & Resorts Inc. will post 3.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher L. Finazzo sold 8,000 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.76, for a total transaction of $294,080.00. Following the sale, the insider directly owned 130,285 shares of the company's stock, valued at $4,789,276.60. This represents a 5.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

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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