State Street Corp Invests $42.79 Million in United Parks & Resorts Inc. (NYSE:PRKS)

State Street Corp purchased a new stake in United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 845,591 shares of the company’s stock, valued at approximately $42,787,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC acquired a new position in United Parks & Resorts during the third quarter worth $25,000. Exchange Traded Concepts LLC acquired a new position in shares of United Parks & Resorts during the 3rd quarter valued at about $28,000. Blue Trust Inc. purchased a new stake in shares of United Parks & Resorts in the third quarter valued at about $30,000. KBC Group NV acquired a new stake in United Parks & Resorts during the third quarter worth about $54,000. Finally, Amalgamated Bank purchased a new position in United Parks & Resorts during the third quarter worth about $65,000.

Insider Activity at United Parks & Resorts

In other news, insider Christopher L. Finazzo sold 13,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $55.62, for a total value of $723,060.00. Following the sale, the insider now directly owns 132,439 shares in the company, valued at approximately $7,366,257.18. This trade represents a 8.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Mikolaichik bought 34,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $57.29 per share, with a total value of $1,947,860.00. Following the purchase, the insider now owns 76,267 shares of the company’s stock, valued at approximately $4,369,336.43. This represents a 80.44 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

United Parks & Resorts Stock Performance

NYSE PRKS opened at $53.62 on Friday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 13.44 and a beta of 2.00. The firm has a 50 day simple moving average of $55.64 and a 200-day simple moving average of $52.93. United Parks & Resorts Inc. has a one year low of $44.72 and a one year high of $60.83.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Guggenheim dropped their price target on shares of United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. B. Riley restated a “buy” rating and issued a $71.00 target price on shares of United Parks & Resorts in a research report on Monday, October 7th. Macquarie lowered their price target on United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Truist Financial boosted their price objective on shares of United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.60.

United Parks & Resorts 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.