SeaWorld Entertainment (NYSE:SEAS) Shares Gap Down to $57.97

SeaWorld Entertainment, Inc. (NYSE:SEAS – Get Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $57.97, but opened at $56.31. SeaWorld Entertainment shares last traded at $57.96, with a volume of 318 shares changing hands.

Wall Street Analysts Forecast Growth

SEAS has been the subject of several research reports. StockNews.com downgraded SeaWorld Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Deutsche Bank Aktiengesellschaft cut their price target on SeaWorld Entertainment from $77.00 to $76.00 in a research note on Wednesday, November 2nd. Truist Financial cut their price target on SeaWorld Entertainment from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, October 5th. B. Riley cut their price target on SeaWorld Entertainment from $79.00 to $75.00 in a research note on Thursday, November 10th. Finally, Credit Suisse Group cut their target price on shares of SeaWorld Entertainment from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.00.

SeaWorld Entertainment Stock Performance

The company has a market cap of $3.64 billion, a PE ratio of 12.93 and a beta of 2.00. The firm has a fifty day simple moving average of $54.83 and a 200 day simple moving average of $51.79.

SeaWorld Entertainment (NYSE:SEAS – Get Rating) last issued its earnings results on Wednesday, November 9th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.20). SeaWorld Entertainment had a negative return on equity of 124.48% and a net margin of 18.33%. The firm had revenue of $565.21 million for the quarter, compared to analysts’ expectations of $578.63 million. As a group, equities analysts predict that SeaWorld Entertainment, Inc. will post 4.12 EPS for the current fiscal year.

Institutional Trading of SeaWorld Entertainment

A number of institutional investors have recently modified their holdings of the company. Penn Capital Management Company LLC grew its holdings in shares of SeaWorld Entertainment by 15.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 287,014 shares of the company’s stock worth $13,079,000 after purchasing an additional 38,145 shares during the period. Bank of New York Mellon Corp boosted its holdings in SeaWorld Entertainment by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 199,709 shares of the company’s stock worth $9,088,000 after acquiring an additional 610 shares during the period. Captrust Financial Advisors boosted its holdings in SeaWorld Entertainment by 3.2% in the 3rd quarter. Captrust Financial Advisors now owns 7,705 shares of the company’s stock worth $351,000 after acquiring an additional 239 shares during the period. BNP Paribas Arbitrage SNC boosted its holdings in SeaWorld Entertainment by 267.1% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 57,727 shares of the company’s stock worth $2,627,000 after acquiring an additional 42,002 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in SeaWorld Entertainment by 3.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 491,033 shares of the company’s stock worth $22,370,000 after acquiring an additional 16,569 shares during the period.

About SeaWorld Entertainment

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SeaWorld Entertainment, Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. The company operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.