United Parks & Resorts (NYSE:PRKS) Shares Down 5% After Analyst Downgrade

United Parks & Resorts Inc. (NYSE:PRKS)’s stock price was down 5% on Tuesday after Truist Financial lowered their price target on the stock from $64.00 to $62.00. Truist Financial currently has a buy rating on the stock. United Parks & Resorts traded as low as $48.85 and last traded at $48.44. Approximately 103,739 shares were traded during trading, a decline of 88% from the average daily volume of 887,195 shares. The stock had previously closed at $50.97.

Several other research analysts also recently issued reports on PRKS. Mizuho lifted their price objective on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Barclays began coverage on United Parks & Resorts in a research report on Friday, March 14th. They set an “equal weight” rating and a $50.00 price target for the company. Guggenheim upped their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Macquarie reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, United Parks & Resorts presently has an average rating of “Hold” and an average price target of $61.18.

Insider Buying and Selling at United Parks & Resorts

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

Institutional Trading of United Parks & Resorts

Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in United Parks & Resorts in the third quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in shares of United Parks & Resorts in the fourth quarter worth $72,000. KBC Group NV lifted its holdings in shares of United Parks & Resorts by 60.2% during the 4th quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after acquiring an additional 638 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of United Parks & Resorts by 267.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock worth $103,000 after buying an additional 1,339 shares during the period. Finally, Schechter Investment Advisors LLC purchased a new stake in shares of United Parks & Resorts during the 4th quarter valued at about $209,000.

United Parks & Resorts Stock Performance

The stock has a fifty day simple moving average of $51.42 and a two-hundred day simple moving average of $53.32. The stock has a market cap of $2.67 billion, a PE ratio of 12.17 and a beta of 1.96.

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.