Geode Capital Management LLC Lowers Position in United Parks & Resorts Inc. $PRKS

by · The Cerbat Gem

Geode Capital Management LLC decreased its stake in shares of United Parks & Resorts Inc. (NYSE:PRKS – Free Report) by 6.3% in the second quarter, Holdings Channel.com reports. The fund owned 644,950 shares of the company’s stock after selling 43,575 shares during the period. Geode Capital Management LLC’s holdings in United Parks & Resorts were worth $30,414,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Hawk Ridge Capital Management LP lifted its stake in United Parks & Resorts by 21.9% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,740,768 shares of the company’s stock worth $79,135,000 after purchasing an additional 312,970 shares in the last quarter. Maverick Capital Ltd. increased its holdings in shares of United Parks & Resorts by 85.7% in the first quarter. Maverick Capital Ltd. now owns 106,004 shares of the company’s stock worth $4,819,000 after purchasing an additional 48,935 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of United Parks & Resorts in the second quarter worth about $1,533,000. Comerica Bank boosted its stake in United Parks & Resorts by 158.5% during the first quarter. Comerica Bank now owns 22,462 shares of the company’s stock valued at $1,021,000 after buying an additional 13,772 shares during the last quarter. Finally, Interval Partners LP bought a new position in United Parks & Resorts during the first quarter valued at approximately $1,424,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PRKS shares. Truist Financial lifted their price objective on United Parks & Resorts from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Zacks Research lowered shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Mizuho decreased their price target on shares of United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 12th. Morgan Stanley lowered their price objective on shares of United Parks & Resorts from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Finally, Stifel Nicolaus dropped 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. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.09.

Get Our Latest Report on United Parks & Resorts

United Parks & Resorts Stock Up 0.2%

NYSE PRKS opened at $35.28 on Friday. United Parks & Resorts Inc. has a 52 week low of $29.62 and a 52 week high of $60.83. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 9.43 and a beta of 1.38. The company has a fifty day moving average of $45.70 and a two-hundred day moving average of $47.50.

United Parks & Resorts (NYSE:PRKS – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.63). United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The firm had revenue of $511.85 million during the quarter, compared to analysts’ expectations of $540.43 million. During the same period in the prior year, the company posted $2.08 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts announced that its board has authorized a stock repurchase program on Friday, September 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

About United Parks & Resorts

(Free Report)

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.

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