United Parks & Resorts Inc. $PRKS Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its stake in shares of United Parks & Resorts Inc. (NYSE:PRKS) by 2,030.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,963 shares of the company’s stock after acquiring an additional 4,730 shares during the period. AlphaQuest LLC’s holdings in United Parks & Resorts were worth $234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC lifted its stake in United Parks & Resorts by 7.4% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company’s stock valued at $205,000 after buying an additional 310 shares in the last quarter. Inspire Investing LLC lifted its stake in United Parks & Resorts by 6.1% during the first quarter. Inspire Investing LLC now owns 7,540 shares of the company’s stock valued at $343,000 after buying an additional 434 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in United Parks & Resorts during the first quarter valued at about $31,000. Rhumbline Advisers lifted its stake in United Parks & Resorts by 2.5% during the first quarter. Rhumbline Advisers now owns 49,738 shares of the company’s stock valued at $2,261,000 after buying an additional 1,190 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in United Parks & Resorts by 11.5% during the second quarter. KLP Kapitalforvaltning AS now owns 11,600 shares of the company’s stock valued at $547,000 after buying an additional 1,200 shares in the last quarter.

Analyst Upgrades and Downgrades

PRKS has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Parks & Resorts in a research note on Wednesday, October 8th. Guggenheim reduced their price objective on shares of United Parks & Resorts from $74.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Zacks Research raised shares of United Parks & Resorts from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Stifel Nicolaus reduced their price objective on shares of United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Citigroup upped their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Parks & Resorts has an average rating of “Hold” and an average target price of $56.40.

United Parks & Resorts Trading Up 2.2%

NYSE PRKS opened at $48.48 on Friday. United Parks & Resorts Inc. has a 1-year low of $37.68 and a 1-year high of $60.83. The company has a market capitalization of $2.67 billion, a PE ratio of 12.96 and a beta of 1.34. The firm’s fifty day simple moving average is $51.93 and its 200-day simple moving average is $48.71.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.31). United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The company had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. During the same period last year, the company posted $1.46 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts predict that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts declared that its Board of Directors has authorized a stock repurchase plan on Friday, September 5th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.