United Parks & Resorts Inc. $PRKS Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its position in shares of United Parks & Resorts Inc. (NYSE:PRKS) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,055,647 shares of the company’s stock after selling 116,240 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.92% of United Parks & Resorts worth $49,774,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Parks & Resorts in the 1st quarter valued at about $31,000. Neo Ivy Capital Management purchased a new stake in United Parks & Resorts in the second quarter valued at approximately $123,000. Prudential Financial Inc. acquired a new stake in shares of United Parks & Resorts in the second quarter valued at approximately $208,000. AlphaQuest LLC grew its position in shares of United Parks & Resorts by 2,030.0% during the second quarter. AlphaQuest LLC now owns 4,963 shares of the company’s stock worth $234,000 after acquiring an additional 4,730 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of United Parks & Resorts during the second quarter worth approximately $258,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRKS shares. JPMorgan Chase & Co. reduced their price target on shares of United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Stifel Nicolaus reduced their target price on shares of United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating for the company in a report on Friday, August 8th. Mizuho lowered their price target on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday, November 12th. Truist Financial dropped their price target on United Parks & Resorts from $61.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup increased their price objective on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.82.

United Parks & Resorts Stock Down 0.9%

NYSE:PRKS opened at $36.04 on Friday. The firm’s fifty day simple moving average is $44.17 and its 200-day simple moving average is $47.05. The stock has a market cap of $1.97 billion, a PE ratio of 11.02 and a beta of 1.30. United Parks & Resorts Inc. has a fifty-two week low of $29.62 and a fifty-two week high of $60.63.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.63). The company had revenue of $511.85 million during the quarter, compared to analyst estimates of $540.43 million. United Parks & Resorts had a net margin of 10.83% and a negative return on equity of 44.47%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the business earned $2.08 EPS. Equities analysts anticipate that United Parks & Resorts Inc. will post 3.95 earnings per share for the current year.

United Parks & Resorts announced that its Board of Directors has approved a stock buyback program on Friday, September 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

United Parks & Resorts Company 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.