Russell Investments Group Ltd. Has $2.79 Million Stock Position in United Parks & Resorts Inc. $PRKS

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% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,468 shares of the company's stock after selling 341,212 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of United Parks & Resorts worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 2,425 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of 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 purchasing an additional 456 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of 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 purchasing an additional 310 shares in the last quarter. Mariner LLC purchased a new stake in shares of United Parks & Resorts in the fourth quarter worth approximately $214,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of United Parks & Resorts in the fourth quarter worth approximately $252,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Guggenheim reduced their price target on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Citigroup increased their price objective on United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Morgan Stanley dropped their price objective 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. Stifel Nicolaus dropped their price objective 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. Finally, Barclays dropped their price objective on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, United Parks & Resorts currently has an average rating of "Hold" and an average target price of $56.91.

United Parks & Resorts Stock Up 1.8%

PRKS stock traded up $0.92 during midday trading on Friday, hitting $52.48. 535,509 shares of the company traded hands, compared to its average volume of 939,223. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83. The business has a 50 day simple moving average of $49.51 and a 200-day simple moving average of $47.45. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 14.03 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.39% and a negative return on equity of 47.59%. The company had revenue of $490.21 million for the quarter, compared to analyst estimates of $505.20 million. During the same quarter last year, the business earned $1.46 EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

About United Parks & Resorts

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.