United Parks & Resorts (NYSE:PRKS) Sees Unusually-High Trading Volume – Still a Buy?

United Parks & Resorts Inc. (NYSE:PRKS) shares 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PRKS shares. Macquarie lowered their price objective on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. B. Riley reissued a “buy” rating and set a $71.00 price target on shares of United Parks & Resorts in a research report on Monday, October 7th. Guggenheim cut their price target on shares of United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Truist Financial boosted their price objective on United Parks & Resorts from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Mizuho reiterated an “underperform” rating and set a $43.00 target price (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 assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.60.

United Parks & Resorts Stock Performance

The stock has a 50 day moving average of $56.51 and a 200 day moving average of $53.48. The stock has a market capitalization of $2.90 billion, a P/E ratio of 13.24 and a beta of 1.99.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). The business had revenue of $545.90 million during the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. On average, research analysts anticipate that United Parks & Resorts Inc. will post 3.96 EPS for the current fiscal year.

Insider Transactions at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 13,000 shares of United Parks & Resorts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.62, for a total value of $723,060.00. Following the transaction, the insider now directly owns 132,439 shares in the company, valued at $7,366,257.18. The trade was a 8.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Mikolaichik bought 34,000 shares of United Parks & Resorts stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the completion of the acquisition, the insider now owns 76,267 shares of the company’s stock, valued at $4,369,336.43. The trade was a 80.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On United Parks & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC acquired a new position in shares of United Parks & Resorts in the third quarter worth $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 stake in shares of United Parks & Resorts during the 3rd quarter worth about $30,000. Public Employees Retirement System of Ohio acquired a new position in United Parks & Resorts in the third quarter worth approximately $32,000. Finally, KBC Group NV bought a new position in United Parks & Resorts during the third quarter valued at approximately $54,000.

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.