JPMorgan Chase & Co. Lowers Stock Holdings in United Parks & Resorts Inc. (NYSE:PRKS)

JPMorgan Chase & Co. lessened its stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 87.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,924 shares of the company's stock after selling 579,701 shares during the period. JPMorgan Chase & Co. owned 0.15% of United Parks & Resorts worth $4,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRKS. Cannon Global Investment Management LLC boosted its position in shares of United Parks & Resorts by 5.9% in the 4th quarter. Cannon Global Investment Management LLC now owns 13,235 shares of the company's stock worth $744,000 after purchasing an additional 735 shares during the last quarter. LPL Financial LLC boosted its holdings in United Parks & Resorts by 7.0% during 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 during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of United Parks & Resorts during the 4th quarter worth about $235,000. KLP Kapitalforvaltning AS bought a new stake in shares of United Parks & Resorts in the 4th quarter valued at about $753,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of United Parks & Resorts in the 4th quarter valued at approximately $1,375,000.

Insider Activity

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $48.90, for a total transaction of $342,691.20. Following the completion of the sale, the insider now directly owns 11,050 shares in the company, valued at $540,345. The trade was a 38.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

United Parks & Resorts Trading Down 0.5 %

PRKS traded down $0.23 during trading on Thursday, hitting $44.03. 76,672 shares of the company's stock traded hands, compared to its average volume of 894,023. United Parks & Resorts Inc. has a 12-month low of $37.68 and a 12-month high of $60.83. The company's 50 day simple moving average is $47.24 and its two-hundred day simple moving average is $52.11. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.04 and a beta of 1.61.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRKS shares. Macquarie cut their target price on shares of United Parks & Resorts from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus cut their target price on shares of United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Truist Financial dropped their price target on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group initiated coverage on United Parks & Resorts in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 target price for the company. Finally, Guggenheim upped their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $58.50.

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.