Bank of America Corp DE Purchases 265,322 Shares of United Parks & Resorts Inc. (NYSE:PRKS)

Bank of America Corp DE grew its holdings in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 40.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 915,918 shares of the company's stock after purchasing an additional 265,322 shares during the period. Bank of America Corp DE owned approximately 1.67% of United Parks & Resorts worth $51,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. National Bank of Canada FI grew its position in United Parks & Resorts by 2,024,910.0% during the 4th quarter. National Bank of Canada FI now owns 405,002 shares of the company's stock worth $22,757,000 after acquiring an additional 404,982 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in United Parks & Resorts by 0.9% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 555,309 shares of the company's stock worth $31,203,000 after acquiring an additional 4,919 shares during the last quarter. Perpetual Ltd grew its position in United Parks & Resorts by 37.8% during the 4th quarter. Perpetual Ltd now owns 459,150 shares of the company's stock worth $25,800,000 after acquiring an additional 125,912 shares during the last quarter. Raymond James Financial Inc. acquired a new position in United Parks & Resorts during the 4th quarter worth about $30,292,000. Finally, ExodusPoint Capital Management LP lifted its holdings in United Parks & Resorts by 82.5% during the 4th 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 during the period.

Analysts Set New Price Targets

Several research analysts have commented on PRKS shares. Barclays started coverage on United Parks & Resorts in a report on Friday, March 14th. They set an "equal weight" rating and a $50.00 target price on the stock. Stifel Nicolaus cut their target price on United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Truist Financial dropped their price objective on United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Macquarie dropped their price objective on United Parks & Resorts from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Mizuho boosted their price objective on United Parks & Resorts from $43.00 to $45.00 and gave the company an "underperform" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $58.15.

United Parks & Resorts Stock Performance

PRKS traded up $0.76 during midday trading on Friday, reaching $49.25. 879,409 shares of the company were exchanged, compared to its average volume of 891,841. The company's fifty day moving average price is $45.42 and its 200 day moving average price is $51.44. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 12.34 and a beta of 1.51. United Parks & Resorts Inc. has a one year low of $37.68 and a one year high of $60.83.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.06). The company had revenue of $286.95 million for the quarter, compared to the consensus estimate of $294.28 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 11,050 shares of the company's stock, valued at $540,345. This represents a 38.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

United Parks & Resorts Company 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.