United Parks & Resorts (NYSE:PRKS) Stock Price Down 8.6% After Earnings Miss

United Parks & Resorts Inc. (NYSE:PRKS)’s stock price fell 8.6% during mid-day trading on Monday following a dissappointing earnings announcement. The stock traded as low as $36.56 and last traded at $35.8550. 758,876 shares were traded during mid-day trading, a decline of 32% from the average session volume of 1,108,687 shares. The stock had previously closed at $39.22.

The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.33). United Parks & Resorts had a net margin of 10.13% and a negative return on equity of 41.63%. During the same quarter in the previous year, the firm posted ($0.29) EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim reduced their price objective on United Parks & Resorts from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of United Parks & Resorts in a report on Friday, March 27th. Zacks Research cut shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research report on Friday, April 17th. Mizuho raised shares of United Parks & Resorts from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $47.00 in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of United Parks & Resorts from $63.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.50.

Hedge Funds Weigh In On United Parks & Resorts

A number of hedge funds have recently made changes to their positions in PRKS. Nomura Holdings Inc. raised its position in United Parks & Resorts by 742.3% in the third quarter. Nomura Holdings Inc. now owns 4,476,357 shares of the company’s stock valued at $231,428,000 after purchasing an additional 3,944,894 shares during the period. Goldentree Asset Management LP lifted its stake in United Parks & Resorts by 83.5% during the fourth quarter. Goldentree Asset Management LP now owns 2,438,437 shares of the company’s stock worth $88,366,000 after purchasing an additional 1,109,930 shares in the last quarter. Long Pond Capital LP purchased a new position in shares of United Parks & Resorts during the fourth quarter worth $31,036,000. CIBC Bancorp USA Inc. purchased a new position in shares of United Parks & Resorts during the third quarter worth $26,000,000. Finally, Cibc World Markets Corp acquired a new stake in shares of United Parks & Resorts in the fourth quarter valued at $18,215,000.

United Parks & Resorts Trading Down 7.0%

The stock has a market cap of $1.74 billion, a PE ratio of 11.90, a P/E/G ratio of 2.96 and a beta of 1.14. The company has a fifty day moving average of $33.96 and a 200-day moving average of $36.36.

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.