Vanguard Group Inc. Sells 46,707 Shares of United Parks & Resorts Inc. $PRKS

Key Points

• Vanguard Group Inc. reduced its stake in United Parks & Resorts by 1.7%, now owning approximately 5.01% of the company, valued at about $125.2 million.
• Analysts have a mixed outlook on the stock, with recent price targets ranging from $49 to $67, and a consensus rating categorized as "Hold."
• United Parks & Resorts reported a miss on earnings for the last quarter, with EPS of $1.45, falling short of the consensus estimate of $1.76.

Vanguard Group Inc. trimmed its holdings in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,754,443 shares of the company's stock after selling 46,707 shares during the period. Vanguard Group Inc. owned about 5.01% of United Parks & Resorts worth $125,217,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PRKS. LPL Financial LLC boosted its position in United Parks & Resorts by 7.0% during the fourth quarter. LPL Financial LLC now owns 5,316 shares of the company's stock valued at $299,000 after buying an additional 350 shares during the period. Envestnet Asset Management Inc. boosted its position in United Parks & Resorts by 0.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company's stock valued at $2,976,000 after buying an additional 258 shares during the period. Renaissance Technologies LLC boosted its position in United Parks & Resorts by 460.0% during the fourth quarter. Renaissance Technologies LLC now owns 50,400 shares of the company's stock valued at $2,832,000 after buying an additional 41,400 shares during the period. Mariner LLC purchased a new stake in United Parks & Resorts during the fourth quarter valued at about $214,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in United Parks & Resorts during the fourth quarter valued at about $850,000.

Analysts Set New Price Targets

PRKS has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Mizuho upped their price target on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their price objective on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Stifel Nicolaus lowered their price objective on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Guggenheim lowered their price objective on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $56.91.

United Parks & Resorts Stock Down 0.3%

Shares of NYSE:PRKS traded down $0.15 during midday trading on Wednesday, hitting $52.08. 496,462 shares of the stock traded hands, compared to its average volume of 949,623. The stock has a market capitalization of $2.87 billion, a PE ratio of 13.93 and a beta of 1.48. The business's 50 day moving average is $49.16 and its two-hundred day moving average is $47.48. United Parks & Resorts Inc. has a one year low of $37.68 and a one year high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued 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 net margin of 12.39% and a negative return on equity of 47.59%. The firm had revenue of $490.21 million for the quarter, compared to the consensus estimate of $505.20 million. During the same period last year, the company posted $1.46 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that United Parks & Resorts Inc. will post 3.95 earnings per share for the current year.

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.