United Parks & Resorts Inc. $PRKS Shares Sold by Vanguard Group Inc.

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. lowered its position in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 1.7% during the first quarter, according to 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 approximately 5.01% of United Parks & Resorts worth $125,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PRKS. Envestnet Asset Management Inc. boosted its stake in shares of United Parks & Resorts by 0.5% during the 4th 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 last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in 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 valued at $205,000 after acquiring an additional 310 shares in the last quarter. LPL Financial LLC boosted its stake in United Parks & Resorts by 7.0% during the 4th quarter. LPL Financial LLC now owns 5,316 shares of the company's stock valued at $299,000 after acquiring an additional 350 shares during the last quarter. QRG Capital Management Inc. boosted its stake in United Parks & Resorts by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after acquiring an additional 456 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in United Parks & Resorts by 2.5% during the 1st quarter. Rhumbline Advisers now owns 49,738 shares of the company's stock worth $2,261,000 after acquiring an additional 1,190 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PRKS shares. Stifel Nicolaus cut their target price on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Mizuho increased their target price on United Parks & Resorts from $44.00 to $46.00 and gave the stock an "underperform" rating in a report on Wednesday, August 13th. Morgan Stanley decreased their target price on 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. Barclays dropped their price target on 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. Finally, JPMorgan Chase & Co. reduced their price objective on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $56.91.

United Parks & Resorts Price Performance

NYSE:PRKS traded up $2.2090 during midday trading on Friday, reaching $53.4890. 925,040 shares of the company traded hands, compared to its average volume of 934,111. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 14.30 and a beta of 1.48. The company has a fifty day moving average price of $48.54 and a 200 day moving average price of $47.41. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.45 earnings per share (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 company had revenue of $490.21 million during the quarter, compared to the consensus estimate of $505.20 million. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal 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.