SeaWorld Entertainment, Inc. (SEAS) Downgraded by Macquarie to Neutral
Macquarie downgraded shares of SeaWorld Entertainment, Inc. (NYSE:SEAS) from an outperform rating to a neutral rating in a research note released on Thursday morning, MarketBeat.com reports. Macquarie currently has $15.00 target price on the stock, down from their previous target price of $22.00.
Other equities analysts also recently issued reports about the company. Janney Montgomery Scott restated a neutral rating on shares of SeaWorld Entertainment in a research report on Wednesday, May 10th. BidaskClub downgraded SeaWorld Entertainment from a sell rating to a strong sell rating in a research report on Wednesday, June 14th. Stifel Nicolaus restated a buy rating and issued a $23.00 price objective on shares of SeaWorld Entertainment in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded SeaWorld Entertainment from a sell rating to a neutral rating and boosted their price objective for the company from $14.44 to $16.00 in a research report on Tuesday, July 18th. Finally, ValuEngine upgraded SeaWorld Entertainment from a sell rating to a hold rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $17.50.
SeaWorld Entertainment (NYSE:SEAS) traded down 0.62% during mid-day trading on Thursday, hitting $14.33. The company’s stock had a trading volume of 1,302,386 shares. The company’s 50 day moving average is $15.47 and its 200-day moving average is $17.45. The stock has a market cap of $1.22 billion, a P/E ratio of 126.81 and a beta of 0.75. SeaWorld Entertainment has a 52-week low of $11.77 and a 52-week high of $20.13.
SeaWorld Entertainment (NYSE:SEAS) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.13. SeaWorld Entertainment had a net margin of 0.79% and a return on equity of 3.66%. The business had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $205.59 million. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. SeaWorld Entertainment’s revenue was down 15.3% on a year-over-year basis. On average, equities analysts predict that SeaWorld Entertainment will post $0.67 EPS for the current fiscal year.
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In other news, CFO Peter J. Crage sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $18.20, for a total transaction of $54,600.00. Following the transaction, the chief financial officer now owns 275,435 shares of the company’s stock, valued at $5,012,917. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Hill Path Capital Partners Co- bought 19,600 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were acquired at an average cost of $15.25 per share, for a total transaction of $298,900.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,540,475 shares of company stock worth $63,638,585. Company insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in SeaWorld Entertainment by 1.7% in the first quarter. Vanguard Group Inc. now owns 5,355,730 shares of the company’s stock worth $97,849,000 after buying an additional 88,648 shares in the last quarter. Van Berkom & Associates Inc. acquired a new position in SeaWorld Entertainment during the first quarter worth approximately $54,199,000. State of New Jersey Common Pension Fund D boosted its position in SeaWorld Entertainment by 6.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 2,800,000 shares of the company’s stock worth $45,556,000 after buying an additional 160,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in SeaWorld Entertainment by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,795,818 shares of the company’s stock worth $51,080,000 after buying an additional 249,412 shares in the last quarter. Finally, Jennison Associates LLC boosted 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 worth $33,019,000 after buying an additional 245,000 shares in the last quarter.
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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