United Parks & Resorts (NYSE:PRKS) Reaches New 52-Week Low – Should You Sell?

United Parks & Resorts Inc. (NYSE:PRKS) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $44.10 and last traded at $44.56, with a volume of 422397 shares changing hands. The stock had previously closed at $46.30.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRKS. Truist Financial decreased their price target on United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Macquarie lowered their target price on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Barclays began coverage on United Parks & Resorts in a research report on Friday, March 14th. They issued an “equal weight” rating and a $50.00 target price for the company. Mizuho increased their price target on shares of United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Finally, Guggenheim lifted their price objective on shares of United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.18.

United Parks & Resorts Price Performance

The business’s 50 day moving average is $50.69 and its 200-day moving average is $53.16. The company has a market cap of $2.64 billion, a PE ratio of 12.02 and a beta of 1.96.

Insider Transactions at United Parks & Resorts

In other news, insider Byron Surrett sold 7,008 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $48.90, for a total transaction of $342,691.20. Following the sale, the insider now owns 11,050 shares of the company’s stock, valued at approximately $540,345. This trade represents a 38.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. lifted its position in shares of United Parks & Resorts by 191.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 51,741 shares of the company’s stock worth $2,907,000 after buying an additional 34,000 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in United Parks & Resorts by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 99,270 shares of the company’s stock valued at $5,578,000 after acquiring an additional 12,236 shares during the last quarter. Squarepoint Ops LLC acquired a new position in United Parks & Resorts in the fourth quarter valued at $571,000. Finally, Tidal Investments LLC purchased a new position in shares of United Parks & Resorts during the fourth quarter worth about $484,000.

About United Parks & Resorts

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.