Victory Capital Management Inc. Purchases New Position in United Parks & Resorts Inc. (NYSE:PRKS)

Victory Capital Management Inc. purchased a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,262 shares of the company’s stock, valued at approximately $772,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $25,000. Exchange Traded Concepts LLC bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $28,000. Blue Trust Inc. bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $30,000. Amalgamated Bank bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $65,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $99,000.

Insider Buying and Selling at United Parks & Resorts

In other news, insider James Mikolaichik purchased 34,000 shares of the stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the completion of the acquisition, the insider now owns 76,267 shares in the company, valued at $4,369,336.43. This represents a 80.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Yoshikazu Maruyama sold 12,984 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total transaction of $650,108.88. Following the transaction, the director now directly owns 41,766 shares of the company’s stock, valued at approximately $2,091,223.62. This represents a 23.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

United Parks & Resorts Stock Performance

Shares of United Parks & Resorts stock opened at $58.07 on Friday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 14.55 and a beta of 2.00. United Parks & Resorts Inc. has a 52-week low of $44.72 and a 52-week high of $60.36. The stock’s 50-day simple moving average is $53.48 and its 200 day simple moving average is $52.32.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). The business had revenue of $545.90 million during the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $1.92 EPS. Equities research analysts forecast that United Parks & Resorts Inc. will post 3.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Macquarie dropped their target price on United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price target on United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus dropped their price target on United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Citigroup lifted their price target on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group lowered United Parks & Resorts from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $53.00 in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.60.

United Parks & Resorts Company Profile

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.