United Parks & Resorts (NYSE:PRKS) Reaches New 52-Week Low – Here’s What Happened

Shares of United Parks & Resorts Inc. (NYSE:PRKS) reached a new 52-week low during trading on Monday . The stock traded as low as $38.64 and last traded at $38.70, with a volume of 48098 shares traded. The stock had previously closed at $41.72.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Macquarie dropped their target price on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays began coverage on United Parks & Resorts in a report on Friday, March 14th. They issued an “equal weight” rating and a $50.00 target price for the company. Mizuho lifted their price target on shares of United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research report on Thursday, February 27th. UBS Group started coverage on United Parks & Resorts in a research report on Wednesday. They issued a “neutral” rating and a $49.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.17.

United Parks & Resorts Stock Down 3.5 %

The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 9.57 and a beta of 1.61. The firm has a fifty day moving average price of $49.42 and a 200-day moving average price of $52.73.

Insiders Place Their Bets

In other news, insider Byron Surrett sold 7,008 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $48.90, for a total value of $342,691.20. Following the sale, the insider now owns 11,050 shares in the company, valued at approximately $540,345. This represents a 38.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of United Parks & Resorts

Several hedge funds have recently made changes to their positions in PRKS. State Street Corp bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $42,787,000. Geode Capital Management LLC bought a new position in shares of United Parks & Resorts in the third quarter valued at approximately $37,472,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in United Parks & Resorts by 15.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company’s stock worth $255,575,000 after acquiring an additional 599,043 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in United Parks & Resorts in the 4th quarter worth $30,292,000. Finally, River Road Asset Management LLC raised its holdings in United Parks & Resorts by 34.1% in the 4th quarter. River Road Asset Management LLC now owns 1,771,636 shares of the company’s stock valued at $99,548,000 after acquiring an additional 450,670 shares in the last quarter.

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.