United Parks & Resorts (NYSE:PRKS) Shares Gap Up Following Insider Buying Activity

Shares of United Parks & Resorts Inc. (NYSE:PRKS) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $56.62, but opened at $58.27. United Parks & Resorts shares last traded at $57.63, with a volume of 46,504 shares.

Specifically, insider James Mikolaichik acquired 34,000 shares of United Parks & Resorts stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the purchase, the insider now owns 76,267 shares in the company, valued at $4,369,336.43. This trade represents a 80.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PRKS shares. Macquarie cut their target price on 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. Citigroup raised their target price on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. 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 note on Friday, November 8th. The Goldman Sachs Group downgraded United Parks & Resorts from a “buy” rating to a “neutral” rating and cut their target price for the stock from $63.00 to $53.00 in a research note on Thursday, August 8th. Finally, Truist Financial raised their target price on United Parks & Resorts from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.60.

United Parks & Resorts Trading Up 1.8 %

The business has a fifty day moving average of $53.14 and a 200 day moving average of $52.21. The company has a market capitalization of $3.17 billion, a PE ratio of 14.19 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last announced its earnings results on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). The firm had revenue of $545.90 million for the quarter, compared to analysts’ expectations of $550.47 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 earnings per share. Equities analysts forecast that United Parks & Resorts Inc. will post 3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On United Parks & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC purchased a new position in shares of United Parks & Resorts in the 3rd quarter valued at about $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $28,000. Blue Trust Inc. acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $30,000. Public Employees Retirement System of Ohio acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $32,000. Finally, KBC Group NV acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $54,000.

About United Parks & Resorts

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.