United Parks & Resorts (NYSE:PRKS) Shares Down 4.5% – Time to Sell?

United Parks & Resorts Inc. (NYSE:PRKS) dropped 4.5% on Wednesday. The company traded as low as $30.54 and last traded at $30.3220. Approximately 148,182 shares were traded during mid-day trading, a decline of 84% from the average session volume of 924,624 shares. The stock had previously closed at $31.76.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PRKS shares. Barclays upped their target price on United Parks & Resorts from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their price target on United Parks & Resorts from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Mizuho set a $51.00 price target on United Parks & Resorts in a research note on Wednesday, August 5th. Weiss Ratings upgraded United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Citizens Jmp began coverage on United Parks & Resorts in a report on Monday, June 29th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, United Parks & Resorts has an average rating of “Hold” and a consensus target price of $45.40.

United Parks & Resorts Stock Down 4.7%

The stock’s 50-day moving average price is $37.46 and its 200 day moving average price is $39.94. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.33). The business had revenue of $483.32 million during the quarter, compared to analyst estimates of $492.10 million. United Parks & Resorts had a negative return on equity of 27.85% and a net margin of 8.11%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company earned $1.45 EPS. On average, research analysts predict that United Parks & Resorts Inc. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, insider James W. Forrester, Jr. sold 1,150 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total value of $41,066.50. Following the transaction, the insider directly owned 26,733 shares in the company, valued at $954,635.43. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher L. Finazzo sold 6,622 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the completion of the transaction, the insider owned 123,663 shares in the company, valued at $5,465,904.60. This represents a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of United Parks & Resorts

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of United Parks & Resorts during the second quarter worth about $171,560,000. Hawk Ridge Capital Management LP bought a new position in shares of United Parks & Resorts during the 1st quarter valued at about $51,094,000. Bank of America Corp DE bought a new position in shares of United Parks & Resorts during the 2nd quarter valued at about $26,222,000. Engine Capital Management LP grew its position in shares of United Parks & Resorts by 20.8% in the 1st quarter. Engine Capital Management LP now owns 1,034,414 shares of the company’s stock valued at $33,784,000 after purchasing an additional 178,017 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of United Parks & Resorts in the 2nd quarter valued at approximately $7,733,000.

About United Parks & Resorts

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of destination amusement and water parks in the United States. Its properties combine rides, live entertainment, animal exhibits, educational experiences, seasonal events and hospitality-related offerings.

The company’s portfolio includes SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Sesame Place parks in Pennsylvania and California; and water parks and attractions such as Aquatica, Adventure Island, Water Country USA and Discovery Cove.