Goldentree Asset Management LP Invests $71.88 Million in United Parks & Resorts Inc. (NYSE:PRKS)

Goldentree Asset Management LP bought a new position in shares of United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,422,652 shares of the company’s stock, valued at approximately $71,882,000. United Parks & Resorts accounts for approximately 5.7% of Goldentree Asset Management LP’s portfolio, making the stock its 4th largest position.

Several other hedge funds have also recently bought and sold shares of PRKS. Hexagon Capital Partners LLC purchased a new stake in shares of United Parks & Resorts during the third quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new stake in United Parks & Resorts during the 3rd quarter valued at $28,000. Blue Trust Inc. purchased a new stake in United Parks & Resorts during the 3rd quarter worth $30,000. KBC Group NV acquired a new position in United Parks & Resorts in the 3rd quarter worth $54,000. Finally, Amalgamated Bank purchased a new position in United Parks & Resorts in the 3rd quarter valued at about $65,000.

Insider Activity at United Parks & Resorts

In other news, insider James Mikolaichik purchased 34,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the completion of the purchase, the insider now owns 76,267 shares of the company’s stock, valued at $4,369,336.43. This trade represents a 80.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider George Anthony Taylor sold 23,837 shares of the business’s 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 owns 85,463 shares of the company’s stock, valued at approximately $4,524,411.22. This represents a 21.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

United Parks & Resorts Price Performance

United Parks & Resorts stock opened at $58.07 on Friday. The company has a market cap of $3.19 billion, a PE ratio of 14.55 and a beta of 2.00. United Parks & Resorts Inc. has a 12 month low of $44.72 and a 12 month high of $60.36. The company has a fifty day moving average price of $53.48 and a two-hundred day moving average price of $52.32.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). The business had revenue of $545.90 million for the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a net margin of 13.85% and a negative return on equity of 76.13%. United Parks & Resorts’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 EPS. Equities research analysts anticipate that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Mizuho restated 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. Stifel Nicolaus reduced their target price on United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Guggenheim decreased their price target on shares of United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Citigroup upped their price target on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.60.

United Parks & Resorts 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.