Pitcairn Co. Sells 712 Shares of SeaWorld Entertainment, Inc. (SEAS)
Pitcairn Co. reduced its stake in SeaWorld Entertainment, Inc. (NYSE:SEAS) by 3.4% during the second quarter, Holdings Channel reports. The fund owned 20,154 shares of the company’s stock after selling 712 shares during the period. Pitcairn Co.’s holdings in SeaWorld Entertainment were worth $328,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in SeaWorld Entertainment during the fourth quarter valued at $3,048,000. Teachers Advisors LLC increased its position in SeaWorld Entertainment by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 108,812 shares of the company’s stock valued at $2,060,000 after buying an additional 2,882 shares during the last quarter. Jennison Associates LLC increased its position in SeaWorld Entertainment by 15.7% in the first quarter. Jennison Associates LLC now owns 1,807,274 shares of the company’s stock valued at $33,019,000 after buying an additional 245,000 shares during the last quarter. Van Berkom & Associates Inc. acquired a new position in SeaWorld Entertainment during the first quarter valued at $54,199,000. Finally, UBS Asset Management Americas Inc. increased its position in SeaWorld Entertainment by 38.7% in the first quarter. UBS Asset Management Americas Inc. now owns 59,050 shares of the company’s stock valued at $1,079,000 after buying an additional 16,479 shares during the last quarter.
SeaWorld Entertainment, Inc. (SEAS) opened at 13.84 on Wednesday. The company’s 50 day moving average is $14.68 and its 200-day moving average is $17.00. The stock’s market capitalization is $1.19 billion. SeaWorld Entertainment, Inc. has a 1-year low of $11.10 and a 1-year high of $20.13.
SeaWorld Entertainment (NYSE:SEAS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.77. SeaWorld Entertainment had a negative net margin of 13.95% and a positive return on equity of 23.32%. The firm had revenue of $373.80 million during the quarter, compared to analyst estimates of $395.24 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. SeaWorld Entertainment’s quarterly revenue was up .7% on a year-over-year basis. Analysts forecast that SeaWorld Entertainment, Inc. will post ($0.95) earnings per share for the current fiscal year.
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Several brokerages have recently commented on SEAS. Stifel Nicolaus began coverage on shares of SeaWorld Entertainment in a research report on Thursday, April 20th. They set a “buy” rating and a $23.00 price objective on the stock. Zacks Investment Research downgraded shares of SeaWorld Entertainment from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Janney Montgomery Scott restated a “neutral” rating on shares of SeaWorld Entertainment in a research report on Wednesday, May 10th. FBR & Co raised their price objective on shares of SeaWorld Entertainment from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Finally, Barclays PLC restated an “underweight” rating and set a $17.00 price objective (up from $16.00) on shares of SeaWorld Entertainment in a research report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.58.
In other SeaWorld Entertainment news, CFO Peter J. Crage sold 3,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $18.20, for a total transaction of $54,600.00. Following the completion of the transaction, the chief financial officer now owns 275,435 shares of the company’s stock, valued at $5,012,917. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Hill Path Holdings Llc bought 256,000 shares of the stock in a transaction on Monday, May 22nd. The shares were bought at an average cost of $18.22 per share, with a total value of $4,664,320.00. The disclosure for this purchase can be found here. Insiders purchased 3,737,075 shares of company stock valued at $64,898,825 in the last three months. 3.40% of the stock is currently owned by insiders.
About SeaWorld Entertainment
SeaWorld Entertainment, Inc is a theme park and entertainment company. The Company owns or licenses a portfolio of brands, including SeaWorld, Sea Rescue and Busch Gardens. As of December 31, 2016, the Company had a diversified portfolio of 12 destination and regional theme parks that are located across the United States.
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