United Parks & Resorts Inc. $PRKS Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its United Parks & Resorts stake by 63.7% in the first quarter, selling 1.46 million shares and retaining 833,053 shares worth approximately $27.2 million.
• United Parks & Resorts reported quarterly EPS of $1.34, below the $1.67 consensus estimate, while revenue of $483.3 million also missed expectations and fell 1.4% year over year.
• Analyst sentiment remains broadly neutral: the stock has an average “Hold” rating and a $47.30 consensus price target, compared with a recent price of $44.92.

Bank of America Corp DE cut its holdings in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 63.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 833,053 shares of the company's stock after selling 1,460,063 shares during the quarter. Bank of America Corp DE owned 1.77% of United Parks & Resorts worth $27,208,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRKS. Quarry LP acquired a new stake in shares of United Parks & Resorts in the third quarter valued at about $28,000. Rockefeller Capital Management L.P. raised its holdings in shares of 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 acquiring an additional 551 shares during the last quarter. Arax Advisory Partners acquired a new position in shares of United Parks & Resorts during the fourth quarter valued at approximately $31,000. Empowered Funds LLC purchased a new position in shares of United Parks & Resorts in the fourth quarter valued at approximately $31,000. Finally, Hantz Financial Services Inc. lifted its position in shares of United Parks & Resorts by 985.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,259 shares of the company's stock valued at $46,000 after acquiring an additional 1,143 shares in the last quarter.

Insider Transactions at United Parks & Resorts

In other United Parks & Resorts news, insider Christopher L. Finazzo sold 6,622 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the completion of the sale, the insider directly owned 123,663 shares in the company, valued at $5,465,904.60. This represents a 5.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

United Parks & Resorts Price Performance

PRKS stock opened at $44.92 on Monday. The business has a 50 day simple moving average of $45.86 and a 200-day simple moving average of $38.99. The firm has a market capitalization of $2.04 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.22 and a beta of 1.16. United Parks & Resorts Inc. has a 1 year low of $28.77 and a 1 year high of $56.95.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The company had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. During the same period in the prior year, the business posted $1.45 EPS. United Parks & Resorts's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that United Parks & Resorts Inc. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup boosted their price target on United Parks & Resorts from $46.00 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Citizens Jmp began coverage on United Parks & Resorts in a report on Monday, June 29th. They issued a "market perform" rating on the stock. The Goldman Sachs Group lifted their target price on shares of United Parks & Resorts from $37.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their target price on shares of United Parks & Resorts from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of United Parks & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, United Parks & Resorts has an average rating of "Hold" and a consensus price target of $47.30.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source