Penn Capital Management Company LLC Lowers Holdings in United Parks & Resorts Inc. (NYSE:PRKS)

Penn Capital Management Company LLC lowered its stake in shares of United Parks & Resorts Inc. (NYSE:PRKS - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,042 shares of the company's stock after selling 62,391 shares during the quarter. United Parks & Resorts comprises 1.5% of Penn Capital Management Company LLC's holdings, making the stock its 13th largest holding. Penn Capital Management Company LLC owned 0.49% of United Parks & Resorts worth $15,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC purchased a new position in United Parks & Resorts in the 3rd quarter worth $37,472,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of United Parks & Resorts by 15.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company's stock worth $255,575,000 after purchasing an additional 599,043 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of United Parks & Resorts during the fourth quarter worth about $30,292,000. River Road Asset Management LLC boosted its position in United Parks & Resorts by 34.1% in the fourth quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company's stock valued at $99,548,000 after buying an additional 450,670 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in United Parks & Resorts by 2,024,910.0% in the 4th 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 during the period.

Insider Buying and Selling

In related news, insider Byron Surrett sold 7,008 shares of the company's stock in a transaction dated Monday, March 10th. The shares were 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 owns 11,050 shares of the company's stock, valued at approximately $540,345. This represents a 38.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

United Parks & Resorts Trading Down 0.6 %

NYSE:PRKS traded down $0.25 during trading hours on Tuesday, hitting $43.51. 182,982 shares of the stock were exchanged, compared to its average volume of 894,518. The company has a market cap of $2.39 billion, a P/E ratio of 10.88 and a beta of 1.61. The firm's fifty day moving average price is $46.65 and its 200 day moving average price is $52.02. United Parks & Resorts Inc. has a 52-week low of $37.68 and a 52-week high of $60.83.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of United Parks & Resorts from $74.00 to $60.00 and set a "buy" rating for the company in a report on Friday, April 11th. Barclays began coverage on United Parks & Resorts in a research note on Friday, March 14th. They issued an "equal weight" rating and a $50.00 target price on the stock. Mizuho lifted their price target on United Parks & Resorts from $43.00 to $45.00 and gave the company an "underperform" rating in a research report on Thursday, February 27th. Guggenheim upped their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, UBS Group initiated coverage on shares of United Parks & Resorts in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $49.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $58.50.

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.