Neo Ivy Capital Management Purchases Shares of 2,600 United Parks & Resorts Inc. $PRKS

Neo Ivy Capital Management acquired a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS) in the 2nd quarter, HoldingsChannel reports. The firm acquired 2,600 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Entropy Technologies LP acquired a new position in shares of United Parks & Resorts in the 2nd quarter worth approximately $686,000. Ensign Peak Advisors Inc raised its position in United Parks & Resorts by 62.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 41,819 shares of the company’s stock valued at $1,972,000 after purchasing an additional 16,135 shares during the last quarter. LSV Asset Management raised its position in United Parks & Resorts by 8.8% in the 2nd quarter. LSV Asset Management now owns 51,900 shares of the company’s stock valued at $2,447,000 after purchasing an additional 4,200 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake in United Parks & Resorts by 60.0% in the second quarter. Quinn Opportunity Partners LLC now owns 24,000 shares of the company’s stock worth $1,132,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of United Parks & Resorts during the second quarter worth $1,533,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRKS shares. Mizuho cut their price target on United Parks & Resorts from $46.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday, November 12th. Morgan Stanley reduced their target price on shares of United Parks & Resorts from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of United Parks & Resorts in a research note on Monday, November 17th. Zacks Research cut shares of United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on United Parks & Resorts from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.09.

United Parks & Resorts Trading Up 9.8%

United Parks & Resorts stock opened at $33.34 on Friday. The company has a market cap of $1.82 billion, a PE ratio of 8.91 and a beta of 1.38. United Parks & Resorts Inc. has a 1 year low of $29.62 and a 1 year high of $60.83. The company’s 50-day moving average is $47.00 and its two-hundred day moving average is $47.83.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). The company had revenue of $511.85 million for the quarter, compared to analyst estimates of $540.43 million. United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $2.08 earnings per share. Research analysts forecast that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts announced that its Board of Directors has approved a share repurchase program on Friday, September 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

United Parks & Resorts Company Profile

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.