United Parks & Resorts (NYSE:PRKS) Stock Price Up 11.9% - Here's Why

Key Points

• United Parks & Resorts shares rose 11.9% to approximately $34.47 in mid-day trading, although trading volume was 89% below the average session volume.
• Analysts remain cautious, with a consensus “Hold” rating from MarketBeat and an average price target of $45.40; four analysts rate the stock a Buy, while ten rate it a Hold.
• The company’s latest quarterly results missed expectations, reporting $1.34 in EPS versus $1.67 expected and revenue of $483.32 million versus $492.10 million, with revenue down 1.4% year over year.

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report)'s share price traded up 11.9% during mid-day trading on Monday. The company traded as high as $33.98 and last traded at $34.4660. Approximately 99,667 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 914,968 shares. The stock had previously closed at $30.80.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup cut their price target on shares of United Parks & Resorts from $49.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of United Parks & Resorts from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group raised their price target on shares of United Parks & Resorts from $37.00 to $41.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Barclays lifted their price target on United Parks & Resorts from $37.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Finally, Guggenheim raised their price objective on United Parks & Resorts from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $45.40.

United Parks & Resorts Trading Up 10.1%

The company has a 50-day simple moving average of $35.31 and a 200 day simple moving average of $38.13. The firm has a market cap of $1.54 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.89 and a beta of 1.22.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The firm had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. During the same quarter in the prior year, the firm earned $1.45 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts expect that United Parks & Resorts Inc. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other United Parks & Resorts news, insider James W. Forrester, Jr. sold 1,150 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total value of $41,066.50. Following the completion of the sale, the insider owned 26,733 shares in the company, valued at approximately $954,635.43. This represents a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher L. Finazzo sold 6,622 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the transaction, the insider directly owned 123,663 shares in the company, valued at approximately $5,465,904.60. The trade was a 5.08% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Parks & Resorts

Large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its stake in shares of United Parks & Resorts by 183.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after purchasing an additional 551 shares during the period. Group One Trading LLC acquired a new stake in shares of United Parks & Resorts in the second quarter valued at approximately $31,000. Global Retirement Partners LLC acquired a new stake in United Parks & Resorts during the 2nd quarter worth $31,000. Fortitude Family Office LLC grew its holdings in shares of United Parks & Resorts by 30,580.0% during the third quarter. Fortitude Family Office LLC now owns 1,534 shares of the company's stock worth $50,000 after buying an additional 1,529 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of United Parks & Resorts in the second quarter valued at approximately $53,000.

About United Parks & Resorts

United Parks & Resorts Inc NYSE: PRKS is a theme park and entertainment company that owns and operates a portfolio of destination amusement and water parks in the United States. Its properties combine rides, live entertainment, animal exhibits, educational experiences, seasonal events and hospitality-related offerings.

The company's portfolio includes SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Sesame Place parks in Pennsylvania and California; and water parks and attractions such as Aquatica, Adventure Island, Water Country USA and Discovery Cove.

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