United Parks & Resorts (NYSE:PRKS) Insider Sells $292,692.40 in Stock

Key Points

• Insider sale: Christopher Finazzo sold 6,622 United Parks & Resorts shares for approximately $292,692, reducing his direct ownership by 5.08% to 123,663 shares.
• Quarterly results missed estimates: The company reported quarterly EPS of $1.34 versus the $1.67 consensus estimate, while revenue of $483.32 million fell short of expectations and declined 1.4% year over year.
• Analyst view remains cautious: Four analysts rate the stock Buy and ten rate it Hold, resulting in an overall “Hold” rating and an average price target of $48.10 versus a recent share price near $44.05.

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) insider Christopher Finazzo sold 6,622 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the sale, the insider directly owned 123,663 shares of the company's stock, valued at $5,465,904.60. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

United Parks & Resorts Price Performance

Shares of NYSE PRKS traded down $0.98 during mid-day trading on Monday, hitting $44.05. The company's stock had a trading volume of 482,211 shares, compared to its average volume of 710,503. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.93 and a beta of 1.16. United Parks & Resorts Inc. has a one year low of $28.77 and a one year high of $56.95. The company's fifty day simple moving average is $45.51 and its 200-day simple moving average is $38.81.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.33). The business had revenue of $483.32 million for the quarter, compared to analyst estimates of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%.The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS. On average, sell-side analysts predict that United Parks & Resorts Inc. will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRKS. Northcoast Research began coverage on shares of United Parks & Resorts in a research report on Wednesday, July 8th. They set a "neutral" rating for the company. The Goldman Sachs Group raised their price target on United Parks & Resorts from $37.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings raised United Parks & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. Citigroup upped their price objective on United Parks & Resorts from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on United Parks & Resorts in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $48.10.

Institutional Investors Weigh In On United Parks & Resorts

Several hedge funds have recently bought and sold shares of PRKS. Comerica Bank boosted its stake in United Parks & Resorts by 89.4% in the 4th quarter. Comerica Bank now owns 77,662 shares of the company's stock worth $2,819,000 after purchasing an additional 36,663 shares during the period. Hawk Ridge Capital Management LP bought a new stake in shares of United Parks & Resorts in the first quarter valued at about $51,094,000. Hsbc Holdings PLC bought a new stake in shares of United Parks & Resorts in the fourth quarter valued at about $1,416,000. Engine Capital Management LP boosted its position in shares of United Parks & Resorts by 96.2% during the fourth quarter. Engine Capital Management LP now owns 856,397 shares of the company's stock worth $31,087,000 after buying an additional 420,000 shares during the period. Finally, Invenomic Capital Management LP boosted its position in shares of United Parks & Resorts by 624.8% during the fourth quarter. Invenomic Capital Management LP now owns 309,008 shares of the company's stock worth $11,217,000 after buying an additional 266,375 shares during the period.

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.

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