United Parks & Resorts (NYSE:PRKS) Coverage Initiated at Northcoast Research

Equities researchers at Northcoast Research assumed coverage on shares of United Parks & Resorts (NYSE:PRKS) in a research report issued on Wednesday. The firm set a “neutral” rating on the stock.

A number of other equities analysts also recently weighed in on PRKS. Zacks Research downgraded United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research report on Friday, April 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $40.00 target price (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of United Parks & Resorts in a research report on Wednesday, June 24th. Citigroup began coverage on shares of United Parks & Resorts in a research note on Monday, June 29th. They set a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on United Parks & Resorts from $63.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, United Parks & Resorts currently has a consensus rating of “Hold” and a consensus target price of $47.00.

United Parks & Resorts Stock Up 0.5%

Shares of NYSE:PRKS opened at $47.42 on Wednesday. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 3.71 and a beta of 1.14. United Parks & Resorts has a 12 month low of $28.77 and a 12 month high of $56.95. The company’s fifty day simple moving average is $41.10 and its 200 day simple moving average is $37.26.

United Parks & Resorts (NYSE:PRKS) last released its earnings results on Monday, May 11th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.33). The firm had revenue of $278.29 million for the quarter, compared to the consensus estimate of $279.92 million. United Parks & Resorts had a negative return on equity of 35.46% and a net margin of 9.09%.United Parks & Resorts’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.29) EPS. Research analysts expect that United Parks & Resorts will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at United Parks & Resorts

In other news, insider Christopher L. Finazzo sold 8,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.76, for a total value of $294,080.00. Following the sale, the insider directly owned 130,285 shares of the company’s stock, valued at approximately $4,789,276.60. This represents a 5.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of United Parks & Resorts in the third quarter valued at approximately $28,000. Sound Income Strategies LLC bought a new stake in United Parks & Resorts in the 4th quarter valued at $25,000. Rockefeller Capital Management L.P. raised its stake in United Parks & Resorts by 183.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock valued at $31,000 after acquiring an additional 551 shares during the period. Arax Advisory Partners acquired a new stake in United Parks & Resorts during the 4th quarter valued at $31,000. Finally, Empowered Funds LLC acquired a new stake in United Parks & Resorts during the 4th quarter valued at $31,000.

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.