Swiss National Bank Sells 9,400 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Swiss National Bank has reduced its stake in United Parks & Resorts Inc. by 15.0%, selling 9,400 shares and retaining 53,300 shares valued at approximately $2.4 million.
• United Parks & Resorts reported earnings per share of $1.45 for the last quarter, missing analysts' expectations of $1.76, alongside a revenue of $490.21 million compared to projected $505.20 million.
• The stock received recent price target adjustments from analysts, with Morgan Stanley lowering its target from $52.00 to $50.00, while Guggenheim set a new target of $67.00 with a "buy" rating.

Swiss National Bank trimmed its position in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,300 shares of the company's stock after selling 9,400 shares during the quarter. Swiss National Bank owned approximately 0.10% of United Parks & Resorts worth $2,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRKS. LPL Financial LLC lifted its holdings in shares of United Parks & Resorts by 7.0% in the fourth quarter. LPL Financial LLC now owns 5,316 shares of the company's stock worth $299,000 after buying an additional 350 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of United Parks & Resorts by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company's stock worth $2,976,000 after purchasing an additional 258 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of United Parks & Resorts by 460.0% in the fourth quarter. Renaissance Technologies LLC now owns 50,400 shares of the company's stock worth $2,832,000 after purchasing an additional 41,400 shares during the last quarter. Mariner LLC bought a new position in shares of United Parks & Resorts in the fourth quarter worth approximately $214,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of United Parks & Resorts in the fourth quarter worth approximately $850,000.

United Parks & Resorts Price Performance

NYSE PRKS traded down $0.48 on Thursday, reaching $51.62. 716,990 shares of the company's stock traded hands, compared to its average volume of 944,430. United Parks & Resorts Inc. has a 12 month low of $37.68 and a 12 month high of $60.83. The stock has a 50-day simple moving average of $49.34 and a 200 day simple moving average of $47.48. The stock has a market cap of $2.84 billion, a PE ratio of 13.80 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $490.21 million for the quarter, compared to the consensus estimate of $505.20 million. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. As a group, analysts anticipate that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PRKS. JPMorgan Chase & Co. decreased their price objective on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Morgan Stanley decreased 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 report on Monday, August 4th. Barclays decreased their price objective 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. Mizuho upped their price objective 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. Finally, Stifel Nicolaus decreased their price objective 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. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.