JCP Investment Management LLC Has $6.67 Million Stock Position in United Parks & Resorts Inc. (NYSE:PRKS)

Key Points

• JCP Investment Management LLC increased its stake in United Parks & Resorts Inc. by 47.1% in the first quarter, owning 146,800 shares valued at approximately $6.67 million.
• Several hedge funds, including Barrow Hanley Mewhinney & Strauss LLC and T. Rowe Price Investment Management Inc., made significant increases to their positions in United Parks & Resorts during the last quarter.
• Research reports have lowered the price targets for United Parks & Resorts, with Guggenheim reducing it from $74.00 to $67.00, while the stock currently has a consensus rating of "Hold" and a price target of $57.38.

JCP Investment Management LLC increased its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 47.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,800 shares of the company's stock after buying an additional 47,000 shares during the period. United Parks & Resorts accounts for approximately 4.2% of JCP Investment Management LLC's investment portfolio, making the stock its 12th biggest position. JCP Investment Management LLC owned approximately 0.27% of United Parks & Resorts worth $6,674,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PRKS. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 2,425 shares during the period. QRG Capital Management Inc. lifted its holdings in 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 buying an additional 456 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted 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 purchasing an additional 310 shares during the last quarter. Mariner LLC acquired a new stake in United Parks & Resorts during the 4th quarter worth about $214,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of United Parks & Resorts in the 4th quarter valued at $252,000.

United Parks & Resorts Stock Performance

PRKS stock traded up $2.67 during midday trading on Thursday, reaching $48.83. 518,218 shares of the company were exchanged, compared to its average volume of 843,657. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 13.01 and a beta of 1.48. The stock's 50-day simple moving average is $46.67 and its 200 day simple moving average is $47.61. United Parks & Resorts Inc. has a 1-year low of $37.68 and a 1-year high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.34). United Parks & Resorts had a net margin of 12.98% and a negative return on equity of 51.46%. United Parks & Resorts's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. On average, research analysts anticipate that United Parks & Resorts Inc. will post 3.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRKS. JPMorgan Chase & Co. reduced their target price on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Mizuho dropped their price objective on shares of United Parks & Resorts from $45.00 to $44.00 and set an "underperform" rating for the company in a report on Monday. Citigroup upped their price objective on shares of United Parks & Resorts from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Morgan Stanley dropped their price objective on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Truist Financial lowered their price target on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, United Parks & Resorts presently has a consensus rating of "Hold" and an average target price of $57.15.

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.