United Parks & Resorts Inc. $PRKS Shares Purchased by HG Vora Capital Management LLC

Key Points

• HG Vora Capital Management LLC increased its stake in United Parks & Resorts by 180%, now owning 1.4 million shares which constitute approximately 6.5% of its total holdings.
• United Parks & Resorts reported a quarterly EPS of $1.45, falling short of estimates, with a year-over-year revenue decline of 1.5%.
• Analysts have mixed ratings for United Parks & Resorts, with a consensus of "Hold" and an average price target of $57.73 after several adjustments downward.

HG Vora Capital Management LLC lifted its holdings in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 180.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,400,000 shares of the company's stock after acquiring an additional 900,000 shares during the period. United Parks & Resorts makes up about 6.5% of HG Vora Capital Management LLC's investment portfolio, making the stock its 8th biggest position. HG Vora Capital Management LLC owned 2.55% of United Parks & Resorts worth $63,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of United Parks & Resorts during the 1st quarter worth about $31,000. GAMMA Investing LLC lifted its holdings in shares of United Parks & Resorts by 3,233.3% during the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock worth $114,000 after acquiring an additional 2,425 shares during the period. Mariner LLC bought a new position in shares of United Parks & Resorts during the 4th quarter worth about $214,000. QRG Capital Management Inc. lifted its holdings 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 acquiring an additional 456 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in shares of United Parks & Resorts during the 4th quarter worth about $252,000.

United Parks & Resorts Stock Performance

PRKS traded down $1.88 during midday trading on Monday, hitting $52.55. The company had a trading volume of 1,477,924 shares, compared to its average volume of 895,414. The company has a market capitalization of $2.89 billion, a PE ratio of 14.05 and a beta of 1.34. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83. The firm's 50-day simple moving average is $50.28 and its 200-day simple moving average is $47.42.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.31). The company had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The company's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, sell-side analysts anticipate that United Parks & Resorts Inc. will post 3.95 EPS for the current fiscal year.

United Parks & Resorts announced that its board has authorized a stock repurchase plan on Friday, September 5th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRKS. Morgan Stanley reduced 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 report on Monday, August 4th. Mizuho upped their price objective on shares of United Parks & Resorts from $44.00 to $46.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 13th. Zacks Research raised shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Citigroup raised their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Stifel Nicolaus dropped 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 report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently 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.