United Parks & Resorts (NYSE:PRKS) Stock Price Up 4.5% – Still a Buy?

United Parks & Resorts Inc. (NYSE:PRKS)’s share price rose 4.5% during trading on Monday. The stock traded as high as $34.07 and last traded at $34.1250. Approximately 91,131 shares changed hands during trading, a decline of 90% from the average daily volume of 933,916 shares. The stock had previously closed at $32.67.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRKS. Deutsche Bank Aktiengesellschaft set a $55.00 target price on United Parks & Resorts in a report on Thursday, August 6th. Citizens Jmp began coverage on United Parks & Resorts in a report on Monday, June 29th. They issued a “market perform” rating for the company. Weiss Ratings upgraded United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Mizuho set a $51.00 price target on United Parks & Resorts in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on United Parks & Resorts from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.40.

United Parks & Resorts Stock Performance

The firm has a market capitalization of $1.55 billion, a P/E ratio of 13.42, a PEG ratio of 3.07 and a beta of 1.25. The firm’s 50-day moving average is $39.17 and its 200 day moving average is $39.87.

United Parks & Resorts (NYSE:PRKS) last announced its earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). The company had revenue of $483.32 million during 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%. United Parks & Resorts’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. As a group, research analysts expect that United Parks & Resorts Inc. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Christopher Finazzo sold 6,622 shares of United Parks & Resorts stock in a transaction that occurred on Thursday, August 6th. The shares were 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 in the company, valued at $5,465,904.60. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Forrester, Jr. sold 1,150 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $35.71, for a total transaction of $41,066.50. Following the completion of the sale, the insider directly owned 26,733 shares in the company, valued at approximately $954,635.43. This represents a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRKS. BlackRock Inc. bought a new stake in United Parks & Resorts during the 2nd quarter worth about $171,560,000. River Road Asset Management LLC boosted its stake in shares of United Parks & Resorts by 3.8% during the 4th quarter. River Road Asset Management LLC now owns 2,056,349 shares of the company’s stock worth $74,645,000 after buying an additional 74,392 shares during the last quarter. Hawk Ridge Capital Management LP bought a new position in shares of United Parks & Resorts in the 1st quarter valued at about $51,094,000. Engine Capital Management LP grew its holdings in shares of United Parks & Resorts by 20.8% in the 1st quarter. Engine Capital Management LP now owns 1,034,414 shares of the company’s stock valued at $33,784,000 after acquiring an additional 178,017 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of United Parks & Resorts in the 2nd quarter valued at about $26,222,000.

About United Parks & Resorts

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of parks and attractions in the United States. Its properties combine amusement rides, live entertainment, animal exhibits, educational experiences, and seasonal events for families and other guests.

The company’s principal brands include SeaWorld, Busch Gardens, Sesame Place, Discovery Cove, Aquatica, Adventure Island, and Water Country USA. Its parks offer roller coasters and other rides, water attractions, animal encounters, zoological presentations, dining, retail, and hospitality-related experiences.