SeaWorld Entertainment, Inc. (SEAS) Position Cut by Investment Management of Virginia LLC
Investment Management of Virginia LLC lowered its position in shares of SeaWorld Entertainment, Inc. (NYSE:SEAS) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,615 shares of the company’s stock after selling 1,670 shares during the period. Investment Management of Virginia LLC owned 0.14% of SeaWorld Entertainment worth $2,125,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Legal & General Group Plc raised its stake in shares of SeaWorld Entertainment by 1.7% in the first quarter. Legal & General Group Plc now owns 79,755 shares of the company’s stock worth $1,458,000 after buying an additional 1,352 shares during the period. Rhumbline Advisers raised its stake in shares of SeaWorld Entertainment by 3.4% in the second quarter. Rhumbline Advisers now owns 78,207 shares of the company’s stock worth $1,272,000 after buying an additional 2,541 shares during the period. American International Group Inc. raised its stake in shares of SeaWorld Entertainment by 7.1% in the first quarter. American International Group Inc. now owns 41,203 shares of the company’s stock worth $753,000 after buying an additional 2,730 shares during the period. Teachers Advisors LLC raised its stake in shares of SeaWorld Entertainment by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 108,812 shares of the company’s stock worth $2,060,000 after buying an additional 2,882 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of SeaWorld Entertainment by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 589,499 shares of the company’s stock worth $9,591,000 after buying an additional 12,371 shares during the period.
SeaWorld Entertainment, Inc. (SEAS) opened at 13.45 on Friday. The stock has a 50 day moving average price of $14.47 and a 200 day moving average price of $16.92. SeaWorld Entertainment, Inc. has a 12 month low of $11.10 and a 12 month high of $20.13. The firm’s market cap is $1.16 billion.
SeaWorld Entertainment (NYSE:SEAS) last released its quarterly earnings results on Tuesday, August 8th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.77. The business had revenue of $373.80 million for the quarter, compared to analyst estimates of $395.24 million. SeaWorld Entertainment had a positive return on equity of 23.32% and a negative net margin of 13.95%. SeaWorld Entertainment’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. On average, equities analysts expect that SeaWorld Entertainment, Inc. will post ($1.35) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Janney Montgomery Scott restated a “neutral” rating on shares of SeaWorld Entertainment in a research note on Wednesday, May 10th. BidaskClub lowered SeaWorld Entertainment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Stifel Nicolaus restated a “buy” rating and set a $23.00 price objective on shares of SeaWorld Entertainment in a research note on Friday, July 14th. FBR & Co lowered SeaWorld Entertainment from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $20.00 to $15.00 in a research note on Wednesday, August 9th. Finally, TheStreet lowered SeaWorld Entertainment from a “c-” rating to a “d” rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.58.
In related news, CFO Peter J. Crage sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $18.20, for a total transaction of $54,600.00. Following the sale, the chief financial officer now directly owns 275,435 shares in the company, valued at approximately $5,012,917. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hill Path Holdings Llc purchased 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were acquired at an average price of $18.49 per share, for a total transaction of $4,622,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 3,375,050 shares of company stock worth $58,447,539. 3.40% of the stock is owned by corporate insiders.
About SeaWorld Entertainment
SeaWorld Entertainment, Inc is a theme park and entertainment company. The Company owns or licenses a portfolio of brands, including SeaWorld, Sea Rescue and Busch Gardens. As of December 31, 2016, the Company had a diversified portfolio of 12 destination and regional theme parks that are located across the United States.
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