Pursuit Attractions and Hospitality (NYSE:PRSU) Shares Gap Up on Earnings Beat

Key Points

• Pursuit Attractions and Hospitality (NYSE:PRSU) shares gapped up from $30.05 to $35.65 after reporting better than expected quarterly earnings, with an EPS of $0.36 beating the consensus estimate of $0.26.
• The company's revenue for the quarter was $116.74 million, exceeding analyst expectations of $110.30 million, and it boasts a return on equity of 33.27%.
• In terms of institutional trading, 89.91% of the company's stock is owned by institutional investors, with significant recent stakes acquired by several firms totaling over $43 million in new investments.

Pursuit Attractions and Hospitality, Inc. (NYSE:PRSU - Get Free Report)'s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $30.05, but opened at $35.65. Pursuit Attractions and Hospitality shares last traded at $34.30, with a volume of 42,745 shares.

The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. Pursuit Attractions and Hospitality had a return on equity of 33.27% and a net margin of 39.51%. The firm had revenue of $116.74 million for the quarter, compared to analyst estimates of $110.30 million.

Analyst Upgrades and Downgrades

PRSU has been the topic of a number of recent research reports. Craig Hallum restated a "buy" rating and issued a $10.00 target price on shares of Pursuit Attractions and Hospitality in a research note on Thursday, May 22nd. Stifel Nicolaus initiated coverage on Pursuit Attractions and Hospitality in a research note on Thursday, May 29th. They issued a "buy" rating and a $38.00 target price on the stock. Finally, Oppenheimer lowered their target price on Pursuit Attractions and Hospitality from $50.00 to $41.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th.

Institutional Trading of Pursuit Attractions and Hospitality

Several large investors have recently made changes to their positions in PRSU. Veracity Capital LLC bought a new stake in shares of Pursuit Attractions and Hospitality during the 2nd quarter worth about $3,497,000. State of Alaska Department of Revenue bought a new stake in shares of Pursuit Attractions and Hospitality during the 2nd quarter worth about $367,000. KLP Kapitalforvaltning AS bought a new stake in shares of Pursuit Attractions and Hospitality during the 2nd quarter worth about $112,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Pursuit Attractions and Hospitality during the 2nd quarter worth about $43,665,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Pursuit Attractions and Hospitality during the 2nd quarter worth about $231,000. Institutional investors own 89.91% of the company's stock.

Pursuit Attractions and Hospitality Stock Performance

The company has a market cap of $976.10 million, a P/E ratio of 2.80, a P/E/G ratio of 1.84 and a beta of 1.91. The company has a 50 day moving average price of $29.40. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13.

About Pursuit Attractions and Hospitality

Pursuit Attractions & Hospitality, Inc engages in the provision of hospitality and leisure activities, experiential marketing, and live events. It operates through the following segments: Pursuit, Spiro, and GES Exhibitions. The Pursuit segment provides travel experiences that include recreational attractions, unique hotels and lodges, food and beverage, retail, sightseeing, and ground transportation services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.