United Parks & Resorts Inc. $PRKS Stake Raised by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 46,968.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,134 shares of the company's stock after acquiring an additional 77,968 shares during the quarter. Fifth Third Bancorp owned approximately 0.16% of United Parks & Resorts worth $2,552,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in United Parks & Resorts by 105.1% during the third quarter. JPMorgan Chase & Co. now owns 463,540 shares of the company's stock valued at $23,965,000 after acquiring an additional 237,575 shares in the last quarter. Comerica Bank increased its stake in shares of United Parks & Resorts by 89.4% during the 4th quarter. Comerica Bank now owns 77,662 shares of the company's stock worth $2,819,000 after purchasing an additional 36,663 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of United Parks & Resorts during the 4th quarter valued at $1,416,000. Engine Capital Management LP raised its holdings in shares of United Parks & Resorts by 96.2% during the 4th quarter. Engine Capital Management LP now owns 856,397 shares of the company's stock valued at $31,087,000 after purchasing an additional 420,000 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of United Parks & Resorts by 112.6% during the 4th quarter. Cibc World Market Inc. now owns 478,410 shares of the company's stock valued at $17,366,000 after purchasing an additional 253,400 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on PRKS. Weiss Ratings raised shares of United Parks & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. UBS Group reissued a "neutral" rating and issued a $45.00 price objective on shares of United Parks & Resorts in a research note on Monday, June 15th. Mizuho upgraded United Parks & Resorts from an "underperform" rating to an "outperform" rating and boosted their target price for the stock from $27.00 to $47.00 in a report on Friday, May 8th. Stifel Nicolaus reaffirmed a "hold" rating and set a $40.00 target price (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. Finally, Citigroup boosted their price objective on shares of United Parks & Resorts from $38.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and an average price target of $47.82.

United Parks & Resorts Price Performance

NYSE:PRKS opened at $44.63 on Tuesday. United Parks & Resorts Inc. has a one year low of $28.77 and a one year high of $56.95. The company has a fifty day moving average price of $43.04 and a 200 day moving average price of $37.94. The stock has a market cap of $2.10 billion, a P/E ratio of 16.84, a PEG ratio of 3.61 and a beta of 1.14.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.33). The company had revenue of $278.29 million during the quarter, compared to analyst estimates of $279.92 million. United Parks & Resorts had a negative return on equity of 35.46% and a net margin of 9.09%.The business's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, equities research analysts anticipate that United Parks & Resorts Inc. will post 3.35 EPS for the current year.

Insider Buying and Selling at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 8,000 shares of United Parks & Resorts stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.76, for a total transaction of $294,080.00. Following the sale, the insider directly owned 130,285 shares of the company's stock, valued at $4,789,276.60. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company's stock.

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.

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