United Parks & Resorts (NYSE:PRKS) Stock Jumps 11.9% – Still a Buy?

United Parks & Resorts Inc. (NYSE:PRKS)’s stock price traded up 11.9% during mid-day trading on Monday. The stock traded as high as $33.98 and last traded at $34.4660. Approximately 99,667 shares were traded during trading, a decline of 89% from the average session volume of 914,968 shares. The stock had previously closed at $30.80.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PRKS shares. Citigroup cut their target price on shares of United Parks & Resorts from $49.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. The Goldman Sachs Group lifted their price objective on United Parks & Resorts from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Guggenheim increased their price target on United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Northcoast Research started coverage on shares of United Parks & Resorts in a research report on Wednesday, July 8th. They set a “neutral” rating on the stock. Finally, Truist Financial reduced their price target on United Parks & Resorts from $53.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, September 10th. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.40.

United Parks & Resorts Stock Performance

The firm has a fifty day moving average of $35.31 and a 200-day moving average of $38.13. The firm has a market cap of $1.54 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.89 and a beta of 1.22.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.33). United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%. The company had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. During the same period in the previous year, the company earned $1.45 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts expect that United Parks & Resorts Inc. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at United Parks & Resorts

In related news, insider Christopher Finazzo sold 6,622 shares of United Parks & Resorts stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the transaction, the insider directly owned 123,663 shares in the company, valued at $5,465,904.60. The trade was a 5.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Forrester, Jr. sold 1,150 shares of United Parks & Resorts stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $35.71, for a total value of $41,066.50. Following the completion of the transaction, the insider directly owned 26,733 shares in the company, valued at $954,635.43. This represents a 4.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in PRKS. BlackRock Inc. acquired a new stake in shares of United Parks & Resorts in the 2nd quarter valued at $171,560,000. Hawk Ridge Capital Management LP acquired a new stake in United Parks & Resorts in the 1st quarter worth $51,094,000. Engine Capital Management LP increased its stake in United Parks & Resorts by 20.8% during the first quarter. Engine Capital Management LP now owns 1,034,414 shares of the company’s stock valued at $33,784,000 after acquiring an additional 178,017 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of United Parks & Resorts by 11.5% in the third quarter. Pinnacle Associates Ltd. now owns 627,966 shares of the company’s stock valued at $20,346,000 after purchasing an additional 64,694 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of United Parks & Resorts during the 2nd quarter worth about $26,222,000.

United Parks & Resorts Company Profile

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of destination amusement and water parks in the United States. Its properties combine rides, live entertainment, animal exhibits, educational experiences, seasonal events and hospitality-related offerings.

The company’s portfolio includes SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Sesame Place parks in Pennsylvania and California; and water parks and attractions such as Aquatica, Adventure Island, Water Country USA and Discovery Cove.