First Trust Advisors LP Sells 19,802 Shares of United Parks & Resorts Inc. (NYSE:PRKS)

First Trust Advisors LP cut its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,425 shares of the company's stock after selling 19,802 shares during the quarter. First Trust Advisors LP's holdings in United Parks & Resorts were worth $867,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. National Bank of Canada FI grew its position in United Parks & Resorts by 2,024,910.0% during the fourth quarter. National Bank of Canada FI now owns 405,002 shares of the company's stock worth $22,757,000 after buying an additional 404,982 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in United Parks & Resorts by 0.9% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 555,309 shares of the company's stock worth $31,203,000 after buying an additional 4,919 shares in the last quarter. Perpetual Ltd grew its position in United Parks & Resorts by 37.8% during the fourth quarter. Perpetual Ltd now owns 459,150 shares of the company's stock worth $25,800,000 after buying an additional 125,912 shares in the last quarter. Raymond James Financial Inc. purchased a new position in United Parks & Resorts during the fourth quarter worth about $30,292,000. Finally, ExodusPoint Capital Management LP grew its position in United Parks & Resorts by 82.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 140,201 shares of the company's stock worth $7,878,000 after buying an additional 63,385 shares in the last quarter.

United Parks & Resorts Price Performance

PRKS traded up $2.11 during midday trading on Monday, reaching $49.29. 1,374,520 shares of the company's stock traded hands, compared to its average volume of 888,831. The firm has a fifty day moving average of $45.42 and a two-hundred day moving average of $51.58. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 12.35 and a beta of 1.51. United Parks & Resorts Inc. has a 52 week low of $37.68 and a 52 week high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.06). United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. During the same period in the previous year, the company posted ($0.17) EPS. The company's quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

Insider Buying and Selling

In related news, insider Byron Surrett sold 7,008 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the sale, the insider now owns 11,050 shares in the company, valued at $540,345. This represents a 38.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRKS. Stifel Nicolaus dropped their price target on United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Macquarie dropped their price target on United Parks & Resorts from $70.00 to $65.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Morgan Stanley dropped their price target on United Parks & Resorts from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Barclays began coverage on United Parks & Resorts in a research note on Friday, March 14th. They set an "equal weight" rating and a $50.00 price target for the company. Finally, Guggenheim lifted their price target on United Parks & Resorts from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $57.85.

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.