Pinnacle Associates Ltd. Buys Shares of 713,208 United Parks & Resorts Inc. (NYSE:PRKS)

Pinnacle Associates Ltd. bought a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 713,208 shares of the company’s stock, valued at approximately $37,679,000. Pinnacle Associates Ltd. owned 1.23% of United Parks & Resorts as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Perpetual Ltd bought a new position in United Parks & Resorts during the third quarter worth about $16,862,000. Raymond James & Associates purchased a new position in United Parks & Resorts in the 3rd quarter valued at approximately $4,487,000. Hunter Associates Investment Management LLC bought a new stake in United Parks & Resorts during the 3rd quarter valued at $1,359,000. SG Americas Securities LLC purchased a new stake in shares of United Parks & Resorts during the third quarter worth $739,000. Finally, Inspire Investing LLC bought a new position in shares of United Parks & Resorts in the third quarter worth $411,000.

United Parks & Resorts Stock Down 0.3 %

Shares of United Parks & Resorts stock traded down $0.17 during trading on Wednesday, hitting $54.73. 281,729 shares of the stock traded hands, compared to its average volume of 887,028. The firm’s fifty day moving average is $50.95 and its 200-day moving average is $51.60. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 14.33 and a beta of 2.01. United Parks & Resorts Inc. has a 52 week low of $41.52 and a 52 week high of $60.36.

United Parks & Resorts (NYSE:PRKS) last issued its earnings results on Wednesday, August 7th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.08). United Parks & Resorts had a negative return on equity of 92.07% and a net margin of 14.06%. The business had revenue of $497.60 million during the quarter, compared to analysts’ expectations of $503.93 million. During the same quarter in the previous year, the business earned $1.35 EPS. United Parks & Resorts’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts forecast that United Parks & Resorts Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other United Parks & Resorts news, insider George Anthony Taylor sold 23,837 shares of United Parks & Resorts stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total value of $1,261,930.78. Following the transaction, the insider now directly owns 85,463 shares of the company’s stock, valued at $4,524,411.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other United Parks & Resorts news, insider George Anthony Taylor sold 23,837 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $52.94, for a total value of $1,261,930.78. Following the sale, the insider now owns 85,463 shares of the company’s stock, valued at $4,524,411.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yoshikazu Maruyama sold 12,984 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $50.07, for a total transaction of $650,108.88. Following the transaction, the director now directly owns 41,766 shares of the company’s stock, valued at approximately $2,091,223.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,366 shares of company stock valued at $1,938,984. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

PRKS has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Citigroup boosted their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Stifel Nicolaus lowered their price objective on United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, B. Riley restated a “buy” rating and set a $71.00 target price on shares of United Parks & Resorts in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, United Parks & Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.70.

United Parks & Resorts Company Profile

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.