United Parks & Resorts (NYSE:PRKS) Trading Down 5% on Analyst Downgrade

United Parks & Resorts Inc. (NYSE:PRKS)’s share price fell 5% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $64.00 to $62.00. Truist Financial currently has a buy rating on the stock. United Parks & Resorts traded as low as $48.85 and last traded at $48.44. 103,739 shares were traded during trading, a decline of 88% from the average session volume of 887,195 shares. The stock had previously closed at $50.97.

PRKS has been the topic of several other reports. Mizuho boosted their target price on shares of United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, February 27th. Guggenheim increased their target price on shares of United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Macquarie cut their price target on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Barclays assumed coverage on United Parks & Resorts in a research report on Friday, March 14th. They set an “equal weight” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.18.

Insider Activity at United Parks & Resorts

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $48.90, for a total transaction of $342,691.20. Following the completion of the transaction, the insider now owns 11,050 shares of the company’s stock, valued at $540,345. This trade represents a 38.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On United Parks & Resorts

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of United Parks & Resorts in the third quarter valued at $32,000. R Squared Ltd acquired a new position in shares of United Parks & Resorts during the fourth quarter worth $72,000. KBC Group NV lifted its holdings in United Parks & Resorts by 60.2% during the 4th quarter. KBC Group NV now owns 1,698 shares of the company’s stock worth $95,000 after buying an additional 638 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of United Parks & Resorts by 267.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock worth $103,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Schechter Investment Advisors LLC purchased a new position in United Parks & Resorts in the fourth quarter valued at approximately $209,000.

United Parks & Resorts Price Performance

The company has a market cap of $2.67 billion, a PE ratio of 12.17 and a beta of 1.96. The stock has a 50 day simple moving average of $51.42 and a two-hundred day simple moving average of $53.32.

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.