Invesco Ltd. Buys 17,291 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Invesco Ltd. increased its stake in United Parks & Resorts Inc. by 31.0% during the first quarter, now holding 73,148 shares valued at approximately $3.3 million.
• United Parks & Resorts reported a net profit margin of 12.39% and earnings per share (EPS) of $1.45, which was below analysts' expectations of $1.76.
• Analysts have mixed ratings on the stock, with five giving a Buy rating, while a consensus average target price is set at $56.91.

Invesco Ltd. grew its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 31.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,148 shares of the company's stock after acquiring an additional 17,291 shares during the quarter. Invesco Ltd. owned 0.13% of United Parks & Resorts worth $3,325,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 worth $114,000 after acquiring an additional 2,425 shares in the last quarter. Mariner LLC bought a new stake in United Parks & Resorts in the fourth quarter worth $214,000. QRG Capital Management Inc. boosted its holdings in United Parks & Resorts by 11.3% in the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after acquiring an additional 456 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in United Parks & Resorts in the fourth quarter worth $252,000. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in United Parks & Resorts by 7.4% in the first 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 in the last quarter.

United Parks & Resorts Price Performance

United Parks & Resorts stock traded down $0.17 during mid-day trading on Thursday, reaching $53.78. 207,713 shares of the stock traded hands, compared to its average volume of 853,354. The stock has a market capitalization of $2.96 billion, a PE ratio of 14.40 and a beta of 1.34. United Parks & Resorts Inc. has a 12-month low of $37.68 and a 12-month high of $60.83. The business's 50-day moving average is $49.98 and its 200-day moving average is $47.50.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 47.59% and a net margin of 12.39%.The company had revenue of $490.21 million during the quarter, compared to the consensus estimate of $505.20 million. During the same period last year, the business earned $1.46 EPS. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that United Parks & Resorts Inc. will post 3.95 EPS for the current fiscal year.

Analysts Set New Price Targets

PRKS has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Morgan Stanley lowered their price target on 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. Truist Financial upped their price target on United Parks & Resorts from $58.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday. Guggenheim lowered their price target on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, Citigroup upped their price target on United Parks & Resorts from $50.00 to $55.00 and gave the company a "neutral" rating 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $57.73.

United Parks & Resorts 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.