United Parks & Resorts (NYSE:PRKS) Shares Gap Up on Insider Buying Activity

Shares of United Parks & Resorts Inc. (NYSE:PRKS) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $56.62, but opened at $58.27. United Parks & Resorts shares last traded at $57.63, with a volume of 46,504 shares.

Specifically, insider James Mikolaichik bought 34,000 shares of the stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the purchase, the insider now owns 76,267 shares of the company’s stock, valued at approximately $4,369,336.43. The trade was a 80.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

PRKS has been the subject of several research reports. The Goldman Sachs Group cut shares of United Parks & Resorts from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $63.00 to $53.00 in a report on Thursday, August 8th. Citigroup boosted their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. B. Riley restated a “buy” rating and issued a $71.00 price target on shares of United Parks & Resorts in a research note on Monday, October 7th. Mizuho reiterated an “underperform” rating and set a $43.00 price objective (down previously from $45.00) on shares of United Parks & Resorts in a research report on Friday, November 8th. Finally, Guggenheim dropped their target price on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, United Parks & Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.60.

United Parks & Resorts Stock Up 1.1 %

The stock has a market cap of $3.15 billion, a P/E ratio of 14.44 and a beta of 2.00. The firm has a 50 day moving average price of $53.14 and a 200 day moving average price of $52.21.

United Parks & Resorts (NYSE:PRKS) last released its earnings results on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). The firm had revenue of $545.90 million for the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. United Parks & Resorts’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS. Equities analysts predict that United Parks & Resorts Inc. will post 3.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hill Path Capital LP purchased a new position in United Parks & Resorts in the 3rd quarter worth approximately $1,376,588,000. Simcoe Capital Management LLC bought a new stake in shares of United Parks & Resorts in the third quarter worth about $110,983,000. Goldentree Asset Management LP purchased a new stake in shares of United Parks & Resorts in the third quarter worth about $71,882,000. River Road Asset Management LLC bought a new position in United Parks & Resorts during the third quarter valued at approximately $66,841,000. Finally, HG Vora Capital Management LLC purchased a new position in United Parks & Resorts during the 3rd quarter valued at approximately $65,780,000.

About United Parks & Resorts

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.