United Parks & Resorts Inc. $PRKS Stock Position Cut by Simcoe Capital Management LLC

Key Points

• Simcoe Capital Management LLC holds $98.86 million in United Parks & Resorts Inc., representing about 17.7% of its portfolio.
• Analysts have mixed views on the stock, with recent price targets dropping from as high as $74.00 to a consensus of $56.91, with five Buy ratings and one Sell rating noted.
• United Parks & Resorts reported earnings per share (EPS) of $1.45 for the last quarter, falling short of expectations by $0.31, and revenue decreased by 1.5% year-over-year.

Simcoe Capital Management LLC decreased its position in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,174,735 shares of the company's stock after selling 18,605 shares during the quarter. United Parks & Resorts comprises about 17.7% of Simcoe Capital Management LLC's holdings, making the stock its largest position. Simcoe Capital Management LLC owned 3.96% of United Parks & Resorts worth $98,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PRKS. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of United Parks & Resorts by 7.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock valued at $205,000 after buying an additional 310 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of United Parks & Resorts by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after purchasing an additional 456 shares during the period. 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 grew its position 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. increased its stake in United Parks & Resorts by 0.3% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 556,918 shares of the company's stock valued at $25,317,000 after purchasing an additional 1,609 shares during the last quarter.

United Parks & Resorts Price Performance

NYSE PRKS traded up $0.10 on Tuesday, reaching $52.68. The company had a trading volume of 476,754 shares, compared to its average volume of 848,711. United Parks & Resorts Inc. has a 1 year low of $37.68 and a 1 year high of $60.83. The firm has a 50-day moving average of $49.66 and a 200-day moving average of $47.42. The firm has a market capitalization of $2.90 billion, a PE ratio of 14.09 and a beta of 1.34.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. As a group, sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Guggenheim decreased 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. Citigroup boosted their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Barclays cut their price target on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Friday, July 11th. Stifel Nicolaus lowered their price objective on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Mizuho upped their price objective on United Parks & Resorts from $44.00 to $46.00 and gave the stock an "underperform" rating in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, United Parks & Resorts presently has an average rating of "Hold" and an average target price of $56.91.

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.