United Parks & Resorts (NYSE:PRKS) Insider Christopher Finazzo Sells 7,200 Shares

United Parks & Resorts Inc. (NYSE:PRKS) insider Christopher Finazzo sold 7,200 shares of United Parks & Resorts stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $35.12, for a total value of $252,864.00. Following the completion of the transaction, the insider owned 138,285 shares in the company, valued at $4,856,569.20. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

United Parks & Resorts Trading Up 0.3%

Shares of NYSE:PRKS traded up $0.12 during trading on Thursday, reaching $35.44. The stock had a trading volume of 57,775 shares, compared to its average volume of 937,241. The firm’s 50-day simple moving average is $40.99 and its 200 day simple moving average is $46.37. United Parks & Resorts Inc. has a one year low of $29.62 and a one year high of $60.63. The company has a market capitalization of $1.93 billion, a P/E ratio of 10.80 and a beta of 1.30.

United Parks & Resorts (NYSE:PRKS) last posted its earnings results on Thursday, November 6th. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). United Parks & Resorts had a net margin of 10.83% and a negative return on equity of 44.47%. The firm had revenue of $511.85 million for the quarter, compared to analysts’ expectations of $540.43 million. During the same period in the previous year, the company earned $2.08 EPS. The company’s revenue was down 6.2% on a year-over-year basis. Equities research analysts forecast that United Parks & Resorts Inc. will post 3.95 earnings per share for the current fiscal year.

United Parks & Resorts announced that its board has authorized a share buyback program on Friday, September 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

PRKS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Zacks Research downgraded shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Truist Financial decreased their price objective on shares of United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. Barclays cut their price objective on shares of United Parks & Resorts from $51.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Finally, The Goldman Sachs Group decreased their target price on shares of United Parks & Resorts from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.82.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CWM LLC grew its position in shares of United Parks & Resorts by 74.3% during the 3rd quarter. CWM LLC now owns 495 shares of the company’s stock valued at $26,000 after acquiring an additional 211 shares during the period. Federated Hermes Inc. raised its stake in shares of United Parks & Resorts by 114.0% during the 3rd quarter. Federated Hermes Inc. now owns 550 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the period. Quarry LP acquired a new stake in United Parks & Resorts in the 3rd quarter valued at $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in United Parks & Resorts in the 1st quarter worth $31,000. Finally, Neo Ivy Capital Management acquired a new position in United Parks & Resorts during the second quarter worth $123,000.

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.