United Parks & Resorts Inc. $PRKS Holdings Lifted 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 grew its position in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 158.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,462 shares of the company's stock after purchasing an additional 13,772 shares during the period. Comerica Bank's holdings in United Parks & Resorts were worth $1,021,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in United Parks & Resorts in the 1st quarter worth about $31,000. GAMMA Investing LLC grew its position 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 worth $114,000 after purchasing an additional 2,425 shares during the last quarter. QRG Capital Management Inc. grew its position in United Parks & Resorts by 11.3% in 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 last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of United Parks & Resorts in the 4th quarter worth approximately $252,000. Finally, Pinnacle Wealth Management Advisory Group LLC lifted 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 worth $205,000 after acquiring an additional 310 shares during the period.

Wall Street Analysts Forecast Growth

PRKS has been the subject of a number of research analyst reports. Guggenheim reduced their price target 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. Citigroup upped their price target 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. Barclays reduced their price target on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Morgan Stanley reduced their price target 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. Finally, Stifel Nicolaus reduced their price target 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. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $57.73.

United Parks & Resorts Price Performance

PRKS stock opened at $54.51 on Friday. United Parks & Resorts Inc. has a 12 month low of $37.68 and a 12 month high of $60.83. The firm has a market cap of $3.00 billion, a PE ratio of 14.58 and a beta of 1.34. The firm has a 50 day simple moving average of $50.28 and a 200 day simple moving average of $47.52.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.31). United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The business had revenue of $490.21 million for the quarter, compared to analyst estimates of $505.20 million. During the same period in the prior year, the company earned $1.46 earnings per share. The firm'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 year.

United Parks & Resorts announced that its board has approved a stock repurchase plan on Friday, September 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

About United Parks & Resorts

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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