Simcoe Capital Management LLC Invests $110.98 Million in United Parks & Resorts Inc. (NYSE:PRKS)

Simcoe Capital Management LLC acquired a new stake in United Parks & Resorts Inc. (NYSE:PRKS) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,193,340 shares of the company’s stock, valued at approximately $110,983,000. United Parks & Resorts comprises about 14.6% of Simcoe Capital Management LLC’s holdings, making the stock its 3rd largest position. Simcoe Capital Management LLC owned approximately 3.99% of United Parks & Resorts as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PRKS. Hexagon Capital Partners LLC acquired a new position in United Parks & Resorts during the third quarter worth $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of United Parks & Resorts in the 3rd quarter worth approximately $28,000. Blue Trust Inc. purchased a new position in United Parks & Resorts in the 3rd quarter valued at approximately $30,000. KBC Group NV acquired a new position in United Parks & Resorts during the third quarter worth $54,000. Finally, Amalgamated Bank acquired a new stake in United Parks & Resorts in the third quarter valued at $65,000.

United Parks & Resorts Trading Up 1.0 %

United Parks & Resorts stock opened at $58.64 on Monday. The stock has a fifty day moving average price of $53.61 and a 200 day moving average price of $52.33. United Parks & Resorts Inc. has a 52 week low of $44.72 and a 52 week high of $60.36. The firm has a market capitalization of $3.23 billion, a P/E ratio of 14.70 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The company had revenue of $545.90 million for the quarter, compared to analyst estimates of $550.47 million. During the same period in the prior year, the company earned $1.92 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that United Parks & Resorts Inc. will post 3.97 EPS for the current year.

Insiders Place Their Bets

In related news, insider George Anthony Taylor sold 23,837 shares of United Parks & Resorts stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total value of $1,261,930.78. Following the transaction, the insider now owns 85,463 shares in the company, valued at approximately $4,524,411.22. This trade represents a 21.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Mikolaichik purchased 34,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $57.29 per share, with a total value of $1,947,860.00. Following the completion of the purchase, the insider now directly owns 76,267 shares of the company’s stock, valued at $4,369,336.43. The trade was a 80.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lowered shares of United Parks & Resorts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $53.00 in a research report on Thursday, August 8th. Guggenheim lowered their price objective on shares of United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Truist Financial increased their price objective on shares of United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus lowered their price objective on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Macquarie lowered their price objective on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.60.

United Parks & Resorts Profile

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.