Insider Selling: United Parks & Resorts (NYSE:PRKS) Insider Sells 8,000 Shares of Stock

United Parks & Resorts Inc. (NYSE:PRKS) insider Christopher Finazzo sold 8,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $36.76, for a total value of $294,080.00. Following the completion of the transaction, the insider 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

United Parks & Resorts Trading Down 2.7%

Shares of PRKS stock traded down $1.27 during mid-day trading on Friday, reaching $45.17. The stock had a trading volume of 717,150 shares, compared to its average volume of 929,506. United Parks & Resorts Inc. has a 12-month low of $28.77 and a 12-month high of $56.95. The company has a market cap of $2.13 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 3.65 and a beta of 1.17. The business has a 50-day simple moving average of $37.25 and a 200 day simple moving average of $35.91.

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

Institutional Trading of United Parks & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRKS. Sound Income Strategies LLC purchased a new stake in United Parks & Resorts during the 4th quarter worth about $25,000. Quarry LP acquired a new stake in United Parks & Resorts in the 3rd quarter worth about $28,000. Rockefeller Capital Management L.P. boosted 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 worth $31,000 after buying an additional 551 shares during the last quarter. Arax Advisory Partners acquired a new stake in United Parks & Resorts in the 4th quarter worth about $31,000. Finally, Empowered Funds LLC acquired a new stake in United Parks & Resorts in the 4th quarter worth about $31,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PRKS shares. Truist Financial raised their price target on United Parks & Resorts from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on 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. Mizuho upgraded United Parks & Resorts from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $27.00 to $47.00 in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of United Parks & Resorts in a research report on Friday, March 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $40.00 price objective (down from $43.00) on shares of United Parks & Resorts in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, United Parks & Resorts presently has an average rating of “Hold” and a consensus price target of $47.20.

United Parks & Resorts Company Profile

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.