United Parks & Resorts (NYSE:PRKS) Sets New 52-Week Low – Time to Sell?

Shares of United Parks & Resorts Inc. (NYSE:PRKS) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $38.64 and last traded at $38.70, with a volume of 48098 shares trading hands. The stock had previously closed at $41.72.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRKS. Guggenheim raised their target price on United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Truist Financial reduced their target price on shares of United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Barclays assumed coverage on shares of United Parks & Resorts in a report on Friday, March 14th. They set an “equal weight” rating and a $50.00 price target for the company. Macquarie cut their price objective on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Mizuho raised their target price on United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.18.

United Parks & Resorts Stock Performance

The company has a market cap of $2.21 billion, a P/E ratio of 10.11 and a beta of 1.61. The business has a fifty day simple moving average of $50.19 and a 200 day simple moving average of $53.01.

Insiders Place Their Bets

In related 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 sale, the insider now owns 11,050 shares in the company, valued at $540,345. This represents a 38.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Parks & Resorts

Several institutional investors have recently made changes to their positions in PRKS. Barrow Hanley Mewhinney & Strauss LLC boosted its position in United Parks & Resorts by 15.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company’s stock valued at $255,575,000 after purchasing an additional 599,043 shares during the period. River Road Asset Management LLC boosted its holdings in shares of United Parks & Resorts by 34.1% during the fourth quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company’s stock valued at $99,548,000 after acquiring an additional 450,670 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of United Parks & Resorts by 1.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,452,380 shares of the company’s stock worth $81,609,000 after acquiring an additional 19,012 shares during the last quarter. Voss Capital LP increased its holdings in shares of United Parks & Resorts by 0.4% in the 4th quarter. Voss Capital LP now owns 1,447,500 shares of the company’s stock worth $81,335,000 after acquiring an additional 5,838 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in United Parks & Resorts by 62.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,055,026 shares of the company’s stock valued at $59,282,000 after purchasing an additional 404,120 shares during 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.