United Parks & Resorts (NYSE:PRKS) Sees Unusually-High Trading Volume – What’s Next?

Shares of United Parks & Resorts Inc. (NYSE:PRKS) saw unusually-high trading volume on Tuesday . Approximately 1,411,589 shares were traded during mid-day trading, an increase of 76% from the previous session’s volume of 804,213 shares.The stock last traded at $52.32 and had previously closed at $52.23.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PRKS shares. Truist Financial lifted their price target on United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Mizuho reaffirmed an “underperform” rating and issued a $43.00 target price (down from $45.00) on shares of United Parks & Resorts in a research report on Friday, November 8th. Macquarie decreased their price target on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. B. Riley reissued a “buy” rating and issued a $71.00 price target on shares of United Parks & Resorts in a research report on Monday, October 7th. Finally, Guggenheim reduced their price objective on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, United Parks & Resorts has an average rating of “Moderate Buy” and a consensus price target of $62.60.

United Parks & Resorts Stock Performance

The firm has a market cap of $2.95 billion, a PE ratio of 13.42 and a beta of 1.99. The stock has a 50-day simple moving average of $56.30 and a two-hundred day simple moving average of $53.47.

United Parks & Resorts (NYSE:PRKS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.08 earnings per share 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 the consensus estimate of $550.47 million. During the same quarter last year, the company earned $1.92 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts anticipate that United Parks & Resorts Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity at United Parks & Resorts

In related news, insider James Mikolaichik purchased 34,000 shares of United Parks & Resorts stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the completion of the transaction, the insider now directly owns 76,267 shares in the company, valued at $4,369,336.43. This represents a 80.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher L. Finazzo sold 13,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $55.62, for a total transaction of $723,060.00. Following the sale, the insider now owns 132,439 shares in the company, valued at $7,366,257.18. The trade was a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hill Path Capital LP bought a new position in United Parks & Resorts during the third quarter valued at $1,376,588,000. Eagle Asset Management Inc. bought a new stake in shares of United Parks & Resorts in the 3rd quarter valued at approximately $21,959,000. Quest Partners LLC purchased a new position in shares of United Parks & Resorts in the 3rd quarter worth approximately $448,000. Goldentree Asset Management LP bought a new position in shares of United Parks & Resorts during the 3rd quarter valued at approximately $71,882,000. Finally, Simcoe Capital Management LLC purchased a new stake in United Parks & Resorts during the 3rd quarter valued at $110,983,000.

About United Parks & Resorts

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.