740,430 Shares in United Parks & Resorts Inc. (NYSE:PRKS) Purchased by Geode Capital Management LLC

Geode Capital Management LLC bought a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, Holdings Channel reports. The fund bought 740,430 shares of the company’s stock, valued at approximately $37,472,000.

A number of other hedge funds have also recently made changes to their positions in the stock. ABS Direct Equity Fund LLC bought a new position in United Parks & Resorts during the 3rd quarter valued at approximately $3,542,000. Barclays PLC bought a new position in shares of United Parks & Resorts during the third quarter valued at $18,222,000. Public Employees Retirement System of Ohio purchased a new position in shares of United Parks & Resorts in the 3rd quarter worth about $32,000. Y Intercept Hong Kong Ltd bought a new position in United Parks & Resorts in the 3rd quarter worth about $212,000. Finally, XTX Topco Ltd bought a new position in United Parks & Resorts in the 3rd quarter worth about $715,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PRKS shares. Macquarie decreased their target price on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Mizuho reaffirmed an “underperform” rating and issued a $43.00 price objective (down from $45.00) on shares of United Parks & Resorts in a research report on Friday, November 8th. Guggenheim reduced their target price on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Truist Financial upped their price target on United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, United Parks & Resorts presently has an average rating of “Moderate Buy” and an average target price of $62.60.

Insider Transactions at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 13,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $55.62, for a total value of $723,060.00. Following the completion of the sale, the insider now directly owns 132,439 shares of the company’s stock, valued at approximately $7,366,257.18. This represents a 8.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Mikolaichik purchased 34,000 shares of the stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $57.29 per share, for a total transaction of $1,947,860.00. Following the acquisition, the insider now directly owns 76,267 shares of the company’s stock, valued at approximately $4,369,336.43. This represents a 80.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

United Parks & Resorts Stock Performance

PRKS stock opened at $54.50 on Wednesday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 13.66 and a beta of 2.00. The business’s 50-day moving average is $55.78 and its two-hundred day moving average is $52.95. United Parks & Resorts Inc. has a fifty-two week low of $44.72 and a fifty-two week high of $60.83.

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 the consensus estimate of $2.23 by ($0.15). The business had revenue of $545.90 million during the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. United Parks & Resorts’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company earned $1.92 EPS. Equities analysts predict that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

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.