HG Vora Capital Management LLC Raises Holdings in United Parks & Resorts Inc. $PRKS

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 increased its holdings in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 180.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,400,000 shares of the company's stock after purchasing an additional 900,000 shares during the period. United Parks & Resorts accounts for 6.5% of HG Vora Capital Management LLC's investment portfolio, making the stock its 8th largest holding. HG Vora Capital Management LLC owned 2.55% of United Parks & Resorts worth $63,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Parks & Resorts during the first quarter valued at $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. Mariner LLC acquired a new stake in shares of United Parks & Resorts during the fourth quarter worth $214,000. QRG Capital Management Inc. lifted its holdings in shares of 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. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of United Parks & Resorts in the 4th quarter worth approximately $252,000.

United Parks & Resorts Stock Down 1.4%

Shares of United Parks & Resorts stock traded down $0.72 during midday trading on Tuesday, hitting $51.96. The company's stock had a trading volume of 396,988 shares, compared to its average volume of 892,400. United Parks & Resorts Inc. has a 1-year low of $37.68 and a 1-year high of $60.83. The firm has a market capitalization of $2.86 billion, a P/E ratio of 13.91 and a beta of 1.34. The stock has a 50-day simple moving average of $50.39 and a 200-day simple moving average of $47.42.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $490.21 million for the quarter, compared to the consensus estimate of $505.20 million. During the same quarter last year, the company earned $1.46 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that United Parks & Resorts Inc. will post 3.95 earnings per share for the current year.

United Parks & Resorts announced that its Board of Directors has approved a stock repurchase program on Friday, September 5th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PRKS has been the subject of a number of research reports. Citigroup raised their target price 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. Zacks Research upgraded shares of United Parks & Resorts from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Morgan Stanley cut their price target on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Mizuho boosted their price target on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a report on Wednesday, August 13th. Finally, Stifel Nicolaus cut their price target on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $57.73.

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.