United Parks & Resorts Inc. (NYSE:PRKS) Insider Sells $342,691.20 in Stock

United Parks & Resorts Inc. (NYSE:PRKS) insider Byron Surrett sold 7,008 shares of the company’s 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 sale, the insider now directly owns 11,050 shares of the company’s stock, valued at $540,345. This represents a 38.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

United Parks & Resorts Stock Performance

Shares of United Parks & Resorts stock opened at $47.27 on Wednesday. The stock’s 50-day simple moving average is $52.97 and its 200 day simple moving average is $53.44. United Parks & Resorts Inc. has a 52-week low of $44.72 and a 52-week high of $60.83. The stock has a market capitalization of $2.60 billion, a P/E ratio of 11.85 and a beta of 1.96.

Analysts Set New Price Targets

A number of research firms recently commented on PRKS. Guggenheim increased their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Mizuho upped their target price on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Finally, Macquarie decreased their target price on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. One 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 company’s stock. Based on data from MarketBeat, United Parks & Resorts has an average rating of “Moderate Buy” and an average price target of $62.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of United Parks & Resorts by 0.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company’s stock worth $2,976,000 after purchasing an additional 258 shares in the last quarter. LPL Financial LLC boosted its stake in United Parks & Resorts by 7.0% in the fourth quarter. LPL Financial LLC now owns 5,316 shares of the company’s stock worth $299,000 after buying an additional 350 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in United Parks & Resorts in the third quarter worth approximately $32,000. KBC Group NV boosted its stake in United Parks & Resorts by 60.2% in the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock worth $95,000 after buying an additional 638 shares in the last quarter. Finally, Cannon Global Investment Management LLC boosted its stake in United Parks & Resorts by 5.9% in the fourth quarter. Cannon Global Investment Management LLC now owns 13,235 shares of the company’s stock worth $744,000 after buying an additional 735 shares in the last quarter.

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.