United Parks & Resorts Inc. $PRKS Shares Acquired by Engine Capital Management LP

Key Points

• Engine Capital Management increased its United Parks & Resorts stake by 20.8% in the first quarter, adding 178,017 shares to own 1.03 million shares worth approximately $33.8 million, or 2.19% of the company.
• United Parks & Resorts reported a quarterly loss of $0.69 per share, missing estimates by $0.33, while revenue fell 3% year over year to $278.3 million. Shares opened at $44.72, within a 52-week range of $28.77 to $56.95.
• Analysts maintain a broadly cautious outlook, with four Buy ratings and eleven Holds producing a consensus Hold rating and an average price target of $47.27.

Engine Capital Management LP increased its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,034,414 shares of the company's stock after purchasing an additional 178,017 shares during the quarter. United Parks & Resorts accounts for approximately 4.1% of Engine Capital Management LP's investment portfolio, making the stock its 9th largest position. Engine Capital Management LP owned 2.19% of United Parks & Resorts worth $33,784,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. SkyView Investment Advisors LLC raised its position in shares of United Parks & Resorts by 1.7% in the 4th quarter. SkyView Investment Advisors LLC now owns 21,685 shares of the company's stock valued at $787,000 after buying an additional 358 shares in the last quarter. Captrust Financial Advisors increased its stake in United Parks & Resorts by 4.9% in the second quarter. Captrust Financial Advisors now owns 8,999 shares of the company's stock valued at $424,000 after acquiring an additional 420 shares during the last quarter. NewEdge Wealth LLC raised its position in United Parks & Resorts by 4.0% during the first quarter. NewEdge Wealth LLC now owns 13,323 shares of the company's stock valued at $435,000 after purchasing an additional 509 shares in the last quarter. Quarry LP acquired a new position in United Parks & Resorts during the third quarter valued at approximately $28,000. Finally, Rockefeller Capital Management L.P. raised its position in United Parks & Resorts by 183.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after purchasing an additional 551 shares in the last quarter.

United Parks & Resorts Price Performance

Shares of NYSE:PRKS opened at $44.72 on Tuesday. United Parks & Resorts Inc. has a one year low of $28.77 and a one year high of $56.95. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.59 and a beta of 1.14. The firm has a 50 day simple moving average of $43.95 and a 200 day simple moving average of $38.25.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.33). The company had revenue of $278.29 million for the quarter, compared to the consensus estimate of $279.92 million. United Parks & Resorts had a negative return on equity of 35.46% and a net margin of 9.09%.The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.29) EPS. As a group, analysts expect that United Parks & Resorts Inc. will post 3.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRKS. Mizuho raised United Parks & Resorts from an "underperform" rating to an "outperform" rating and raised their target price for the company from $27.00 to $47.00 in a report on Friday, May 8th. Weiss Ratings raised United Parks & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 10th. Citizens Jmp began coverage on United Parks & Resorts in a research report on Monday, June 29th. They set a "market perform" rating for the company. Guggenheim reduced their price objective on United Parks & Resorts from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday. Finally, UBS Group reiterated a "neutral" rating and issued a $45.00 target price on shares of United Parks & Resorts in a research report on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $47.27.

Insider Buying and Selling at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 8,000 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.76, for a total transaction of $294,080.00. Following the sale, the insider owned 130,285 shares in the company, valued at $4,789,276.60. The trade was a 5.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding PRKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parks & Resorts Inc. (NYSE:PRKS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.