Squarepoint Ops LLC Invests $1.87 Million in United Parks & Resorts Inc. $PRKS

Key Points

• Squarepoint Ops LLC acquired 39,121 shares of United Parks & Resorts in the second quarter, worth approximately $1.87 million and representing 0.09% of the company. Other major investors, including BlackRock, Hawk Ridge Capital, and Bank of America, also established or expanded positions.
• United Parks & Resorts reported quarterly earnings of $1.34 per share, below the $1.67 consensus estimate, while revenue fell 1.4% year over year to $483.32 million. The stock opened at $35.98, below analysts’ average price target of $46.90.
• Analyst sentiment remains broadly cautious, with four Buy ratings, nine Holds, and one Sell; recent price targets range from $41 to $54. Insider Christopher Finazzo also sold 6,622 shares, reducing his position by 5.08%.

Squarepoint Ops LLC bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 39,121 shares of the company's stock, valued at approximately $1,868,000. Squarepoint Ops LLC owned 0.09% of United Parks & Resorts as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PRKS. BlackRock Inc. acquired a new position in United Parks & Resorts during the second quarter worth approximately $171,560,000. River Road Asset Management LLC boosted its holdings in shares of United Parks & Resorts by 3.8% in 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. Hawk Ridge Capital Management LP purchased a new position in shares of United Parks & Resorts during the first quarter worth approximately $51,094,000. Engine Capital Management LP grew its position in shares of United Parks & Resorts by 20.8% during the first quarter. Engine Capital Management LP now owns 1,034,414 shares of the company's stock worth $33,784,000 after acquiring an additional 178,017 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of United Parks & Resorts in the 2nd quarter valued at $26,222,000.

Insider Activity at United Parks & Resorts

In related news, insider Christopher Finazzo sold 6,622 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total value of $292,692.40. Following the sale, the insider directly owned 123,663 shares of the company's stock, valued at approximately $5,465,904.60. This represents a 5.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRKS. Citigroup upped their price target on shares of United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Guggenheim lifted their price objective on shares of United Parks & Resorts from $51.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of United Parks & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Mizuho set a $51.00 target price on shares of United Parks & Resorts in a research note on Wednesday, August 5th. Finally, Barclays boosted their price target on United Parks & Resorts from $37.00 to $41.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.90.

United Parks & Resorts Stock Down 2.0%

NYSE PRKS opened at $35.98 on Wednesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 14.17, a P/E/G ratio of 3.45 and a beta of 1.14. United Parks & Resorts Inc. has a 52-week low of $28.77 and a 52-week high of $55.71. The firm has a 50-day moving average price of $43.68 and a 200 day moving average price of $39.86.

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

United Parks & Resorts Profile

United Parks & Resorts Inc NYSE: PRKS is a U.S.-based theme park and entertainment company that owns and operates a portfolio of parks featuring thrill rides, water attractions, live entertainment, animal exhibits and educational experiences. Its brands include SeaWorld, Busch Gardens, Discovery Cove, Sesame Place, Aquatica, Adventure Island and Water Country USA.

The company operates parks in Florida, Texas, Virginia, California and Pennsylvania. Its properties include SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Discovery Cove in Orlando; Sesame Place parks in Pennsylvania and California; Aquatica water parks in Orlando and San Antonio; Adventure Island in Tampa; and Water Country USA in Williamsburg.

United Parks & Resorts traces its history to SeaWorld Entertainment, which became a publicly traded company in 2013.

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