Corient Private Wealth LP Makes New Investment in United Parks & Resorts Inc. $PRKS

Corient Private Wealth LP bought a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 98,140 shares of the company’s stock, valued at approximately $4,685,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PRKS. AQR Capital Management LLC boosted its stake in shares of United Parks & Resorts by 11.7% in the first quarter. AQR Capital Management LLC now owns 12,220 shares of the company’s stock worth $556,000 after acquiring an additional 1,282 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in United Parks & Resorts by 58.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 678,813 shares of the company’s stock valued at $30,859,000 after purchasing an additional 251,522 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in United Parks & Resorts by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,317 shares of the company’s stock valued at $4,651,000 after purchasing an additional 3,047 shares during the last quarter. Prudential Financial Inc. purchased a new position in United Parks & Resorts in the 2nd quarter valued at $208,000. Finally, Invesco Ltd. lifted its holdings in United Parks & Resorts by 5.8% in the 2nd quarter. Invesco Ltd. now owns 77,357 shares of the company’s stock valued at $3,647,000 after purchasing an additional 4,209 shares in the last quarter.

United Parks & Resorts Stock Performance

PRKS opened at $40.02 on Tuesday. The stock has a market capitalization of $1.81 billion, a PE ratio of 15.76, a P/E/G ratio of 3.99 and a beta of 1.16. United Parks & Resorts Inc. has a one year low of $28.77 and a one year high of $56.95. The business’s 50 day moving average price is $45.51 and its 200 day moving average price is $39.53.

United Parks & Resorts (NYSE:PRKS) last posted its earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.33). United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The business had revenue of $483.32 million during the quarter, compared to analysts’ expectations of $492.10 million. During the same quarter in the prior year, the firm earned $1.45 EPS. United Parks & Resorts’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that United Parks & Resorts Inc. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of United Parks & Resorts from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. UBS Group reissued a “neutral” rating and issued a $45.00 price target on shares of United Parks & Resorts in a research note on Monday, June 15th. Weiss Ratings upgraded shares of United Parks & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Mizuho set a $51.00 price objective on shares of United Parks & Resorts in a research note on Wednesday, August 5th. Finally, Guggenheim increased their price objective on shares of United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.30.

Insider Activity

In related news, insider Christopher L. Finazzo sold 6,622 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $44.20, for a total transaction of $292,692.40. Following the completion of the sale, the insider directly owned 123,663 shares of the company’s stock, valued at approximately $5,465,904.60. This trade represents a 5.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

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.