United Parks & Resorts (NYSE:PRKS) Hits New 12-Month Low – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Guggenheim increased 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. Macquarie decreased their price target on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Barclays started coverage on United Parks & Resorts in a research note on Friday, March 14th. They set an “equal weight” rating and a $50.00 price objective for the company. Mizuho raised their target price on United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research report on Thursday, February 27th. Finally, Truist Financial dropped their price target on United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.18.

United Parks & Resorts Stock Performance

The business has a 50 day simple moving average of $50.69 and a 200-day simple moving average of $53.16. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 12.02 and a beta of 1.96.

Insider Buying and Selling

In other news, insider Byron Surrett sold 7,008 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $48.90, for a total value of $342,691.20. Following the completion of the sale, the insider now owns 11,050 shares of the company’s stock, valued at $540,345. This represents a 38.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its stake in United Parks & Resorts by 0.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 52,963 shares of the company’s stock worth $2,976,000 after acquiring an additional 258 shares during the last quarter. LPL Financial LLC increased its position in shares of United Parks & Resorts by 7.0% during the 4th quarter. LPL Financial LLC now owns 5,316 shares of the company’s stock worth $299,000 after purchasing an additional 350 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in United Parks & Resorts in the 3rd quarter valued at about $32,000. KBC Group NV lifted its position in United Parks & Resorts by 60.2% in the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after buying an additional 638 shares during the last quarter. Finally, Cannon Global Investment Management LLC boosted its stake in United Parks & Resorts by 5.9% during the fourth quarter. Cannon Global Investment Management LLC now owns 13,235 shares of the company’s stock worth $744,000 after buying an additional 735 shares during the period.

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.