United Parks & Resorts (NYSE:PRKS) Sees Unusually-High Trading Volume – What’s Next?

Shares of United Parks & Resorts Inc. (NYSE:PRKS) saw unusually-strong trading volume on Tuesday . Approximately 1,411,589 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 804,213 shares.The stock last traded at $52.32 and had previously closed at $52.23.

Wall Street Analyst Weigh In

PRKS has been the subject of a number of research reports. Macquarie dropped their price objective on United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Guggenheim dropped their price target on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Truist Financial lifted their price objective on United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley reaffirmed a “buy” rating and issued a $71.00 price target on shares of United Parks & Resorts in a research report on Monday, October 7th. Finally, Mizuho reissued 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.60.

United Parks & Resorts Stock Up 3.0 %

The company’s 50 day simple moving average is $56.30 and its two-hundred day simple moving average is $53.47. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 13.42 and a beta of 1.99.

United Parks & Resorts (NYSE:PRKS) last issued 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). The business had revenue of $545.90 million for the quarter, compared to analysts’ expectations of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. United Parks & Resorts’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. Analysts anticipate that United Parks & Resorts Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling at United Parks & Resorts

In other United Parks & Resorts news, insider James Mikolaichik purchased 34,000 shares of United Parks & Resorts stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the transaction, the insider now owns 76,267 shares of the company’s stock, valued at $4,369,336.43. This represents a 80.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher L. Finazzo sold 13,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.62, for a total transaction of $723,060.00. Following the transaction, the insider now directly owns 132,439 shares of the company’s stock, valued at approximately $7,366,257.18. This trade represents a 8.94 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of United Parks & Resorts

A number of hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC purchased a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $25,000. Exchange Traded Concepts LLC acquired a new position in United Parks & Resorts in the 3rd quarter worth about $28,000. Blue Trust Inc. purchased a new position in United Parks & Resorts during the third quarter worth approximately $30,000. Public Employees Retirement System of Ohio acquired a new stake in United Parks & Resorts in the third quarter valued at approximately $32,000. Finally, KBC Group NV increased its position in shares of 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 in the last quarter.

About United Parks & Resorts

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.