Simcoe Capital Management LLC Takes Position in United Parks & Resorts Inc. (NYSE:PRKS)

Simcoe Capital Management LLC bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,193,340 shares of the company’s stock, valued at approximately $110,983,000. United Parks & Resorts accounts for about 14.6% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

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

Insider Buying and Selling at United Parks & Resorts

In related news, insider George Anthony Taylor sold 23,837 shares of the 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Mikolaichik bought 34,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $57.29 per share, for a total transaction of $1,947,860.00. Following the purchase, the insider now directly 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 currently owned by company insiders.

United Parks & Resorts Stock Up 1.0 %

PRKS opened at $58.64 on Monday. The company’s 50-day moving average price is $53.61 and its 200 day moving average price is $52.33. United Parks & Resorts Inc. has a fifty-two week low of $44.72 and a fifty-two week high of $60.36. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 14.70 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings results 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). United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The company had revenue of $545.90 million for the quarter, compared to analyst estimates of $550.47 million. During the same quarter in the previous year, the company posted $1.92 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts anticipate that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on PRKS shares. 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 reduced their price objective on shares of United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Citigroup boosted their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Mizuho reissued an “underperform” rating and issued a $43.00 price objective (down from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.60.

About United Parks & Resorts

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.