Stock Traders Buy High Volume of Call Options on SeaWorld Entertainment (SEAS)
SeaWorld Entertainment, Inc. (NYSE:SEAS) was the target of some unusual options trading on Wednesday. Investors acquired 32,758 call options on the company. This is an increase of 1,071% compared to the average volume of 2,797 call options.
SeaWorld Entertainment (SEAS) opened at 13.29 on Monday. SeaWorld Entertainment has a 12 month low of $11.10 and a 12 month high of $20.13. The firm’s 50-day moving average price is $12.94 and its 200-day moving average price is $15.52. The stock’s market cap is $1.14 billion.
SeaWorld Entertainment (NYSE:SEAS) last released its earnings results on Tuesday, August 8th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.77. SeaWorld Entertainment had a positive return on equity of 23.32% and a negative net margin of 13.95%. The company had revenue of $373.80 million for the quarter, compared to analysts’ expectations of $395.24 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that SeaWorld Entertainment will post ($1.72) earnings per share for the current year.
A number of analysts have recently commented on the company. BidaskClub downgraded 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 issued a $23.00 target price on shares of SeaWorld Entertainment in a research note on Friday, July 14th. TheStreet downgraded SeaWorld Entertainment from a “c-” rating to a “d” rating in a research note on Tuesday, August 8th. FBR & Co downgraded SeaWorld Entertainment from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $20.00 to $15.00 in a research note on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) upgraded SeaWorld Entertainment from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.44 to $16.00 in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.70.
In related news, major shareholder Hill Path Capital Partners Co- bought 320,627 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $13.21 per share, for a total transaction of $4,235,482.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Hill Path Capital Partners Lp bought 44,600 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $12.72 per share, for a total transaction of $567,312.00. The disclosure for this purchase can be found here. Insiders bought 1,472,969 shares of company stock worth $19,324,419 over the last three months. Corporate insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in SeaWorld Entertainment during the 2nd quarter worth approximately $499,000. Alpha Windward LLC acquired a new position in SeaWorld Entertainment during the 2nd quarter worth approximately $403,000. Hill Path Capital LP increased its position in SeaWorld Entertainment by 172.8% during the 2nd quarter. Hill Path Capital LP now owns 12,024,537 shares of the company’s stock worth $195,639,000 after purchasing an additional 7,616,675 shares during the period. Gotham Asset Management LLC acquired a new position in SeaWorld Entertainment during the 1st quarter worth approximately $4,518,000. Finally, Parametric Portfolio Associates LLC increased its position in SeaWorld Entertainment by 5.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 367,892 shares of the company’s stock worth $6,721,000 after purchasing an additional 20,491 shares during the period. Institutional investors own 89.33% of the company’s stock.
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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