United Parks & Resorts Inc. $PRKS Shares Acquired by Comerica Bank

Key Points

• Comerica Bank significantly increased its holdings in United Parks & Resorts by 158.5%, owning 22,462 shares valued at over $1 million.
• United Parks & Resorts reported disappointing earnings, with an EPS of $1.45 missing estimates of $1.76, and a quarter revenue of $490.21 million, down 1.5% year-over-year.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a price target averaging $57.73, reflecting recent adjustments by several investment firms.

Comerica Bank boosted its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 158.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,462 shares of the company's stock after purchasing an additional 13,772 shares during the quarter. Comerica Bank's holdings in United Parks & Resorts were worth $1,021,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in United Parks & Resorts in the first quarter valued at approximately $31,000. GAMMA Investing LLC grew its holdings in United Parks & Resorts by 3,233.3% in the first 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. grew its holdings in United Parks & Resorts by 11.3% in the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after purchasing an additional 456 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its holdings in 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 purchasing an additional 310 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in United Parks & Resorts in the fourth quarter valued at approximately $252,000.

United Parks & Resorts Stock Down 0.2%

Shares of NYSE PRKS traded down $0.12 during trading on Thursday, reaching $50.19. 974,630 shares of the stock were exchanged, compared to its average volume of 1,141,508. The business's 50-day moving average price is $50.39 and its 200 day moving average price is $47.43. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.42 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). United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The firm had revenue of $490.21 million for the quarter, compared to analyst estimates of $505.20 million. During the same period in the previous year, the firm posted $1.46 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts declared that its board has approved a share repurchase program on Friday, September 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PRKS has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their target price on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a report on Friday, August 8th. Morgan Stanley decreased their price objective on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Citigroup boosted their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Guggenheim decreased their price objective on shares of 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. Finally, Truist Financial boosted their price objective on shares of United Parks & Resorts from $58.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $57.73.

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.