Hill Path Capital LP Purchases Shares of 27,205,306 United Parks & Resorts Inc. (NYSE:PRKS)

Hill Path Capital LP acquired a new position in United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,205,306 shares of the company’s stock, valued at approximately $1,376,588,000. United Parks & Resorts accounts for approximately 72.7% of Hill Path Capital LP’s portfolio, making the stock its largest holding. Hill Path Capital LP owned 49.46% of United Parks & Resorts at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC purchased a new stake in United Parks & Resorts during the 3rd quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new position in United Parks & Resorts during the third quarter valued at $28,000. Blue Trust Inc. bought a new stake in United Parks & Resorts in the 3rd quarter valued at $30,000. KBC Group NV purchased a new stake in United Parks & Resorts in the 3rd quarter worth $54,000. Finally, Amalgamated Bank bought a new position in shares of United Parks & Resorts during the 3rd quarter valued at about $65,000.

Insider Buying and Selling at United Parks & Resorts

In related news, insider George Anthony Taylor sold 23,837 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 85,463 shares of the company’s stock, valued at $4,524,411.22. This represents a 21.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Mikolaichik bought 34,000 shares of the company’s 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 completion of the acquisition, the insider now owns 76,267 shares in the company, valued at $4,369,336.43. This represents a 80.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Mizuho reaffirmed an “underperform” rating and set a $43.00 price objective (down from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. Truist Financial raised their target price on shares of United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One investment 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’s stock. Based on data from MarketBeat, United Parks & Resorts has a consensus rating of “Moderate Buy” and an average price target of $62.60.

United Parks & Resorts Stock Up 2.8 %

PRKS opened at $60.29 on Tuesday. The business has a fifty day moving average of $53.79 and a 200 day moving average of $52.39. The stock has a market cap of $3.32 billion, a P/E ratio of 15.11 and a beta of 2.00. United Parks & Resorts Inc. has a 52-week low of $44.72 and a 52-week high of $60.83.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly 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 company had revenue of $545.90 million during 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%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 earnings per share. Equities analysts anticipate that United Parks & Resorts Inc. will post 3.97 EPS for the current fiscal year.

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.