United Parks & Resorts Inc. $PRKS Position Trimmed by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in United Parks & Resorts by 84.7%, owning only 61,468 shares after selling 341,212 during the quarter, which valued their stake at approximately $2.79 million.
• Several other institutional investors have also adjusted their positions, with Pinnacle Wealth Management increasing its stake by 7.4% and QRG Capital Management raising its position by 11.3% in the first quarter.
• The company's stock is currently rated as "Hold" by analysts, with a consensus target price of $56.91, while its latest earnings report showed a missed EPS estimate of $1.45 compared to the expected $1.76.

Russell Investments Group Ltd. trimmed its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 84.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 61,468 shares of the company's stock after selling 341,212 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of United Parks & Resorts worth $2,794,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PRKS. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in United Parks & Resorts by 15.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company's stock valued at $255,575,000 after buying an additional 599,043 shares during the last quarter. Bank of America Corp DE raised its stake in shares of United Parks & Resorts by 40.8% during the fourth quarter. Bank of America Corp DE now owns 915,918 shares of the company's stock valued at $51,465,000 after purchasing an additional 265,322 shares in the last quarter. Nuveen LLC bought a new stake in shares of United Parks & Resorts during the first quarter valued at about $6,191,000. JCP Investment Management LLC bought a new stake in shares of United Parks & Resorts during the fourth quarter valued at about $5,608,000. Finally, Bwcp LP raised its stake in shares of United Parks & Resorts by 11.5% during the fourth quarter. Bwcp LP now owns 412,064 shares of the company's stock valued at $23,154,000 after purchasing an additional 42,624 shares in the last quarter.

United Parks & Resorts Stock Performance

PRKS traded down $0.48 during trading on Thursday, reaching $51.62. The company had a trading volume of 716,990 shares, compared to its average volume of 854,049. The firm's 50-day simple moving average is $49.16 and its 200 day simple moving average is $47.48. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 13.80 and a beta of 1.48. United Parks & Resorts Inc. has a 12-month low of $37.68 and a 12-month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $505.20 million. During the same period in the prior year, the business posted $1.46 EPS. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Barclays dropped their price target on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Stifel Nicolaus dropped 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 research report on Friday, August 8th. Citigroup boosted their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Mizuho boosted their price target on shares of United Parks & Resorts from $44.00 to $46.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $56.91.

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.