United Parks & Resorts Inc. $PRKS Position Decreased by Simcoe Capital Management LLC

Key Points

• Simcoe Capital Management cut its PRKS position by 28.0%, selling 605,777 shares and now holds 1,558,193 shares (about 2.83% of the company) valued at roughly $80.56 million, making it Simcoe's second-largest holding.
• United Parks & Resorts missed quarterly EPS expectations (reported $0.28 vs. $0.46 est.) with revenue down 2.8% year-over-year, and the stock trades near $30.89 with a market cap of about $1.5 billion.
• Analysts have lowered price targets recently and the consensus rating is "Hold" with a consensus price target of $46.40 (3 Buy, 7 Hold, 2 Sell).

Simcoe Capital Management LLC trimmed its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 28.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,558,193 shares of the company's stock after selling 605,777 shares during the quarter. United Parks & Resorts accounts for approximately 11.7% of Simcoe Capital Management LLC's portfolio, making the stock its 2nd largest holding. Simcoe Capital Management LLC owned about 2.83% of United Parks & Resorts worth $80,559,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in United Parks & Resorts by 74.3% in the 3rd quarter. CWM LLC now owns 495 shares of the company's stock valued at $26,000 after purchasing an additional 211 shares in the last quarter. Federated Hermes Inc. increased its position in United Parks & Resorts by 114.0% during the 3rd quarter. Federated Hermes Inc. now owns 550 shares of the company's stock worth $28,000 after purchasing an additional 293 shares during the period. Neo Ivy Capital Management purchased a new position in shares of United Parks & Resorts during the 2nd quarter worth approximately $123,000. Pacer Advisors Inc. purchased a new position in shares of United Parks & Resorts during the 3rd quarter worth approximately $154,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of United Parks & Resorts by 238.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,023 shares of the company's stock valued at $190,000 after buying an additional 2,835 shares during the period.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRKS. Guggenheim decreased their price target on United Parks & Resorts from $56.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Truist Financial cut their price objective on United Parks & Resorts from $61.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, December 4th. Weiss Ratings reissued a "sell (d+)" rating on shares of United Parks & Resorts in a report on Monday, December 29th. Citigroup decreased their target price on shares of United Parks & Resorts from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, February 5th. Finally, Mizuho lowered their price target on shares of United Parks & Resorts from $28.00 to $27.00 and set an "underperform" rating on the stock in a research note on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.40.

United Parks & Resorts Trading Down 0.6%

PRKS stock opened at $30.89 on Friday. The firm has a 50 day moving average of $35.83 and a 200-day moving average of $41.27. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.15 and a beta of 1.18. United Parks & Resorts Inc. has a 12-month low of $29.62 and a 12-month high of $56.95.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.18). United Parks & Resorts had a negative return on equity of 41.63% and a net margin of 10.13%.The firm had revenue of $373.55 million during the quarter, compared to analyst estimates of $375.87 million. During the same quarter in the prior year, the company earned $0.50 EPS. The business's revenue was down 2.8% on a year-over-year basis. Sell-side analysts forecast that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 7,200 shares of the business's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $35.12, for a total transaction of $252,864.00. Following the sale, the insider directly owned 138,285 shares in the company, valued at approximately $4,856,569.20. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company's stock.

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.

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