United Parks & Resorts (NYSE:PRKS) Stock Price Down 5% on Analyst Downgrade

Shares of United Parks & Resorts Inc. (NYSE:PRKS) traded down 5% during trading on Tuesday after Truist Financial lowered their price target on the stock from $64.00 to $62.00. Truist Financial currently has a buy rating on the stock. United Parks & Resorts traded as low as $48.85 and last traded at $48.44. 103,739 shares traded hands during trading, a decline of 88% from the average session volume of 887,195 shares. The stock had previously closed at $50.97.

Several other equities analysts also recently commented on the company. Barclays assumed coverage on United Parks & Resorts in a research report on Friday, March 14th. They issued an “equal weight” rating and a $50.00 target price on the stock. Mizuho increased their price objective on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Macquarie reduced their target price on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Guggenheim upped their price target on shares of United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.18.

Insider Buying and Selling at United Parks & Resorts

In other news, insider Byron Surrett sold 7,008 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $48.90, for a total transaction of $342,691.20. Following the completion of the transaction, the insider now owns 11,050 shares of the company’s stock, valued at approximately $540,345. The trade was a 38.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

A number of hedge funds have recently made changes to their positions in the stock. Hill Path Capital LP bought a new position in United Parks & Resorts in the 3rd quarter valued at approximately $1,376,588,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of United Parks & Resorts by 15.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company’s stock worth $255,575,000 after buying an additional 599,043 shares in the last quarter. Simcoe Capital Management LLC bought a new position in shares of United Parks & Resorts in the 3rd quarter valued at $110,983,000. River Road Asset Management LLC boosted its holdings in shares of United Parks & Resorts by 34.1% during the 4th quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company’s stock valued at $99,548,000 after acquiring an additional 450,670 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in United Parks & Resorts by 1.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,452,380 shares of the company’s stock worth $81,609,000 after acquiring an additional 19,012 shares during the last quarter.

United Parks & Resorts Stock Performance

The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 12.13 and a beta of 1.96. The business has a fifty day simple moving average of $51.29 and a 200-day simple moving average of $53.29.

About United Parks & Resorts

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.