Allianz Asset Management GmbH Sells 19,210 Shares of United Parks & Resorts Inc. $PRKS

Allianz Asset Management GmbH decreased its stake in United Parks & Resorts Inc. (NYSE:PRKS) by 41.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,452 shares of the company’s stock after selling 19,210 shares during the period. Allianz Asset Management GmbH’s holdings in United Parks & Resorts were worth $1,294,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PRKS. Caitong International Asset Management Co. Ltd bought a new position in shares of United Parks & Resorts in the 1st quarter worth $31,000. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of United Parks & Resorts by 7.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company’s stock worth $205,000 after buying an additional 310 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of United Parks & Resorts by 6.1% in the 1st quarter. Inspire Investing LLC now owns 7,540 shares of the company’s stock worth $343,000 after buying an additional 434 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of United Parks & Resorts in the 1st quarter worth $375,000. Finally, Fox Run Management L.L.C. increased its holdings in shares of United Parks & Resorts by 185.2% in the 1st quarter. Fox Run Management L.L.C. now owns 11,912 shares of the company’s stock worth $542,000 after buying an additional 7,735 shares during the last quarter.

United Parks & Resorts Stock Down 2.3%

Shares of PRKS opened at $49.75 on Monday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 13.30 and a beta of 1.34. The firm has a fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $48.47. United Parks & Resorts Inc. has a twelve month low of $37.68 and a twelve month high of $60.83.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.31). The firm had revenue of $490.21 million for the quarter, compared to analysts’ expectations of $505.20 million. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 EPS. Sell-side analysts expect that United Parks & Resorts Inc. will post 3.95 EPS for the current fiscal year.

United Parks & Resorts announced that its Board of Directors has authorized a stock buyback plan on Friday, September 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho increased their target price on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an “underperform” rating in a report on Wednesday, August 13th. Stifel Nicolaus reduced their target price on shares of United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Parks & Resorts in a report on Wednesday, October 8th. Citigroup increased their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Finally, Barclays reduced their target price on shares of United Parks & Resorts from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, United Parks & Resorts currently has an average rating of “Hold” and a consensus target price of $56.40.

United Parks & Resorts Profile

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.